I don't think its instos, its now impossible for institutional investors to exit even if they want to, large investors like Forager is now well and truly "stuck", whether they like it or not, their only strategy is now hope. The last insto that offloaded was above 10c when liquidity was still relatively high.
As regard to the price, I wouldn't pay much attention to it, this is not a stock trading in the zone where fundamental prevails, its trading in the zone where investor psychology reigns supreme.
Imo
FIG Price at posting:
6.1¢ Sentiment: Hold Disclosure: Held