Forge Global Holdings Inc. (NYSE: FRGE) stock fell -0.48% on Friday to $2.09 against a previous-day closing price of $2.10. With 0.67 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.77 million shares. During the session, the Software – Application company that operates in wider Technology sector, reached to the highest price of $2.1100 whereas the lowest price it dropped to was $2.0500. The 52-week range on FRGE shows that it touched its highest point at $4.14 and its lowest point at $1.10 during that stretch. It currently has a 1-year price target of $4.00. Beta for the stock currently stands at 2.75.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of FRGE was down-trending over the past week, with a drop of -3.24%, but this was down by -15.73% over a month. Three-month performance surged to 8.29% while six-month performance rose 23.67%. The stock lost -40.79% in the past year, while it has gained 20.81% so far this year. A look at the trailing 12-month EPS for FRGE yields -0.54 with Next year EPS estimates of -0.32. For the next quarter, that number is -0.10. This implies an EPS growth rate of -645.70% for this year and 32.60% for next year.
Float and Shares Shorts:
At present, 173.29 million FRGE shares are outstanding with a float of 125.84 million shares on hand for trading. On Aug 30, 2023, short shares totaled 3.37 million, which was 1.93% higher than short shares on Jul 30, 2023. In addition to Mr. Kelly A. Rodriques as the firm’s CEO & Director, Mr. Mark P. Lee serves as its Chief Financial Officer.
Institutional Ownership:
Through their ownership of 33.03% of FRGE’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 7.74% of FRGE, in contrast to 17.92% held by mutual funds. Shares owned by individuals account for 17.31%. As the largest shareholder in FRGE with 4.94% of the stake, Temasek Holdings Pte Ltd. holds 8,607,712 shares worth 8,607,712. A second-largest stockholder of FRGE, BlackRock Fund Advisors, holds 6,651,339 shares, controlling over 3.82% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in FRGE, holding 5,053,285 shares or 2.90% stake. With a 1.79% stake in FRGE, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 3,118,181 shares are owned by the mutual fund manager. The iShares Russell 2000 ETF, which owns about 1.36% of FRGE stock, is the second-largest Mutual Fund holder. It holds 2,367,385 shares valued at 5.8 million. Vanguard Extended Market Index Fu holds 0.80% of the stake in FRGE, owning 1,393,339 shares worth 3.41 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, FRGE reported revenue of $16.46M and operating income of -$25.36M. The EBITDA in the recently reported quarter was -$42.30M and diluted EPS was -$0.20.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for FRGE since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With FRGE analysts setting a high price target of $7.00 and a low target of $2.50, the average target price over the next 12 months is $4.00. Based on these targets, FRGE could surge 234.93% to reach the target high and rise by 19.62% to reach the target low. Reaching the average price target will result in a growth of 91.39% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded FRGE stock several times over the past three months with 0 Buys and 1 Sells. In these transactions, 0 shares were bought while 194,400 shares were sold. The number of buy transactions has increased to 21 while that of sell transactions has risen to 8 over the past year. The total number of shares bought during that period was 6,677,126 while 470,840 shares were sold.
