Forge Global (FRGE) Projected to Post Earnings on Tuesday

Forge Global (NYSE:FRGE) is expected to be posting its quarterly earnings results 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. Individual that wish to listen to the company’s earnings conference call can do so using this link.

Forge Global Trading Down 2.5 %

Shares of NYSE FRGE opened at $0.58 on Tuesday. The stock has a 50 day moving average of $0.79 and a 200-day moving average of $1.02. The company has a market capitalization of $108.37 million, a P/E ratio of -1.34 and a beta of 2.21. Forge Global has a 12 month low of $0.55 and a 12 month high of $3.56.

Forge Global announced that its board has initiated a stock buyback plan on Wednesday, March 5th that permits the company to repurchase $10.00 million in shares. This repurchase authorization permits the company to purchase up to 6.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Forge Global

In other Forge Global news, CRO Jennifer Phillips sold 159,108 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $1.00, for a total value of $159,108.00. Following the completion of the transaction, the executive now owns 604,728 shares of the company’s stock, valued at $604,728. This represents a 20.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Kelly Rodriques sold 50,000 shares of the company’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $0.80, for a total value of $40,000.00. Following the completion of the transaction, the chief executive officer now directly owns 8,030,213 shares of the company’s stock, valued at approximately $6,424,170.40. The trade was a 0.62 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 210,508 shares of company stock valued at $200,508. Corporate insiders own 7.22% of the company’s stock.

Wall Street Analyst Weigh In

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

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.