Forge Global Holdings Inc. (FRGE) attracts a new wave of investors despite economic turmoil

Forge Global Holdings Inc. (NYSE: FRGE) closed the day trading at $1.45 up 2.84% from the previous closing price of $1.41. In other words, the price has increased by $+0.0400 from its previous closing price. On the day, 327523 shares were traded. FRGE stock price reached its highest trading level at $1.4800 during the session, while it also had its lowest trading level at $1.3800.

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For a better understanding of FRGE, let’s look at its different ratios. For the most recent quarter (mrq), Quick Ratio is recorded 9.50 and its Current Ratio is at 9.50. In the meantime, Its Debt-to-Equity ratio is 0.05 whereas as Long-Term Debt/Eq ratio is at 0.05.

Upgrades & Downgrades

In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for this company, Piper Sandler on November 22, 2022, initiated with a Neutral rating and assigned the stock a target price of $1.75.

On August 26, 2022, JMP Securities started tracking the stock assigning a Mkt Outperform rating and target price of $10.JMP Securities initiated its Mkt Outperform rating on August 26, 2022, with a $10 target price.

Insider Transactions:

The insider trade also gives investors a glimpse into the future direction of stock prices, which can be beneficial to investors. A recent insider transaction in this stock occurred on Nov 17 when Vogel Kimberley H bought 33,000 shares for $1.51 per share. The transaction valued at 49,820 led to the insider holds 33,000 shares of the business.

Vogel Kimberley H bought 30,303 shares of FRGE for $50,000 on Nov 11. The Director now owns 54,303 shares after completing the transaction at $1.65 per share. On Sep 23, another insider, Hansmeyer Christoph, who serves as the Director of the company, bought 5,541 shares for $1.91 each. As a result, the insider paid 10,598 and bolstered with 33,900 shares of the company.

Valuation Measures:

For the stock, the TTM Price-to-Sale (P/S) ratio is 2.63 while its Price-to-Book (P/B) ratio in mrq is 0.78.

Stock Price History:

Over the past 52 weeks, FRGE has reached a high of $47.50, while it has fallen to a 52-week low of $1.29. The 50-Day Moving Average of the stock is 1.7840, while the 200-Day Moving Average is calculated to be 9.6126.

Shares Statistics:

Over the past 3-months, FRGE traded about 1.33M shares per day on average, while over the past 10 days, FRGE traded about 551.63k shares per day. A total of 171.36M shares are outstanding, with a floating share count of 126.04M. Insiders hold about 6.00% of the company’s shares, while institutions hold 27.80% stake in the company. Shares short for FRGE as of Oct 13, 2022 were 1.89M with a Short Ratio of 2.05M, compared to 3.28M on Sep 14, 2022.

Earnings Estimates

Current recommendations for the stock of the company come from 2 analysts. The consensus estimate for the next quarter is -$0.14, with high estimates of -$0.12 and low estimates of -$0.16.

Analysts are recommending an EPS of between -$0.66 and -$0.98 for the fiscal current year, implying an average EPS of -$0.82. EPS for the following year is -$0.3, with 2 analysts recommending between -$0.28 and -$0.33.

Revenue Estimates

Based on 2 analysts’ estimates, the company’s revenue will be $107.41M in the next fiscal year. The high estimate is $108.51M and the low estimate is $106.3M. The average revenue growth estimate for next year is up 46.80% from the average revenue estimate for this year.