Forge Global Holdings Inc (NYSE:FRGE) shares, rose in value, with the stock price up by 8.15% to the previous day’s close as strong demand from buyers drove the stock to $1.99.
Actively observing the price movement in the last trading, the stock closed the session at $1.84. Referring to stock’s 52-week performance, its high was $4.02, and the low was $1.10. On the whole, FRGE has fluctuated by 8.15% over the past month.
As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.12, which is expected to increase to -$0.1 for fiscal year -$0.4 and then to about -$0.29 by fiscal year 2025. Data indicates that the EPS growth is expected to be 23.10% in 2025, while the next year’s EPS growth is forecast to be 27.50%.
Analysts have estimated the company’s revenue for the quarter at $19.2 million, with a low estimate of $17.8 million and a high estimate of $20 million. According to the average forecast, sales growth in current quarter could jump up 11.70%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $91.42 million, representing an increase of 30.90% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that FRGE’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium term indicators have put the stock in the category of 50% Sell while long term indicators on average have been pointing out that it is a 50% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of FRGE currently trading nearly -0.18% and 2.90% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 49.49, while the 7-day volatility ratio is showing 11.34% which for the 30-day chart, stands at 10.99%. Furthermore, Forge Global Holdings Inc (FRGE)’s beta value is 2.57, and its average true range (ATR) is 0.26.
A comparison of Forge Global Holdings Inc (FRGE) with its peers suggests the former has fared considerably weaker in the market. FRGE showed an intraday change of 8.15% in last session, and over the past year, it grew by 25.95%%.
Data on historical trading for Forge Global Holdings Inc (NYSE:FRGE) indicates that the trading volumes over the past 10 days have averaged 2.51 million and over the past 3 months, they’ve averaged 743.99K. According to company’s latest data on outstanding shares, there are 176.90 million shares outstanding.
Nearly 43.31% of Forge Global Holdings Inc’s shares belong to company insiders and institutional investors own 27.61% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 3.22 million shares as on Mar 15, 2024, resulting in a short ratio of 10.51. According to the data, the short interest in Forge Global Holdings Inc (FRGE) stood at 1.82% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 3.32 million. The stock has fallen by -41.98% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the FRGE stock heading into the next quarter.
