Forge Global (FRGE) to Release Quarterly Earnings on Tuesday

Forge Global (NYSE:FRGE) is expected to release its earnings data before the market opens on Tuesday, March 25th. Analysts expect Forge Global to post earnings of ($0.09) per share and revenue of $20.75 million for the quarter. Investors that are interested in registering for the company’s conference call can do so using this link.

Forge Global Trading Up 1.0 %

Shares of Forge Global stock opened at $0.61 on Monday. The company has a fifty day simple moving average of $0.78 and a 200-day simple moving average of $1.00. Forge Global has a 12-month low of $0.55 and a 12-month high of $3.56. The stock has a market cap of $115.52 million, a price-to-earnings ratio of -1.43 and a beta of 2.21.

Forge Global declared that its Board of Directors has initiated a stock repurchase program on Wednesday, March 5th that permits the company to buyback $10.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 6.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. reissued an “underweight” rating on shares of Forge Global in a report on Tuesday, January 7th.

Insiders Place Their Bets

In other news, CRO Jennifer Phillips sold 159,108 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $1.00, for a total value of $159,108.00. Following the completion of the sale, the executive now owns 604,728 shares in the company, valued at approximately $604,728. This trade represents a 20.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Kelly Rodriques sold 50,000 shares of the stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $0.80, for a total transaction of $40,000.00. Following the transaction, the chief executive officer now directly owns 8,030,213 shares of the company’s stock, valued at $6,424,170.40. This represents a 0.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.22% of the stock is owned by insiders.

About Forge Global

Forge Global Holdings, Inc operates a financial services platform in California. The company's platform solutions include trading solutions, a platform that connects investors with private company stockholders and enables them to facilitate private share transactions; and custody solutions, a non-depository trust company that enables clients to securely custody and manage assets through an online portal.