Short Interest in Heritage Global Inc. (NASDAQ:HGBL) Rises By 35.6%

Heritage Global Inc. (NASDAQ:HGBL) was the target of a significant increase in short interest during the month of December. As of December 15th, there was short interest totaling 16,374 shares, an increase of 35.6% from the November 30th total of 12,077 shares. Approximately 0.1% of the company’s stock are sold short. Based on an average daily trading volume, of 54,452 shares, the days-to-cover ratio is currently 0.3 days. Based on an average daily trading volume, of 54,452 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.1% of the company’s stock are sold short.

Hedge Funds Weigh In On Heritage Global

Several institutional investors have recently made changes to their positions in the company. Truffle Hound Capital LLC increased its stake in shares of Heritage Global by 41.6% during the second quarter. Truffle Hound Capital LLC now owns 920,157 shares of the company’s stock worth $2,043,000 after purchasing an additional 270,157 shares in the last quarter. Susquehanna International Group LLP acquired a new stake in Heritage Global in the 3rd quarter worth about $71,000. Militia Capital Partners LP boosted its holdings in Heritage Global by 6.6% in the 1st quarter. Militia Capital Partners LP now owns 584,478 shares of the company’s stock worth $1,274,000 after buying an additional 36,000 shares during the last quarter. Punch & Associates Investment Management Inc. increased its stake in Heritage Global by 0.9% during the 3rd quarter. Punch & Associates Investment Management Inc. now owns 2,475,228 shares of the company’s stock worth $4,109,000 after buying an additional 21,175 shares in the last quarter. Finally, Virtu Financial LLC acquired a new position in shares of Heritage Global during the third quarter valued at approximately $28,000. 33.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Heritage Global in a research report on Monday. Singular Research raised shares of Heritage Global to a “strong-buy” rating in a report on Tuesday, September 2nd. Finally, Zacks Research raised Heritage Global to a “hold” rating in a research report on Thursday, September 4th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $4.00.

Heritage Global Stock Performance

Shares of HGBL traded down $0.01 during trading hours on Wednesday, reaching $1.24. 102,975 shares of the company traded hands, compared to its average volume of 74,377. The company has a quick ratio of 1.89, a current ratio of 2.29 and a debt-to-equity ratio of 0.06. The business has a fifty day moving average price of $1.33 and a 200-day moving average price of $1.73. Heritage Global has a 12-month low of $1.21 and a 12-month high of $2.39. The stock has a market capitalization of $43.08 million, a P/E ratio of 13.78 and a beta of 0.62.

Heritage Global (NASDAQ:HGBL) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.03). The business had revenue of $11.36 million during the quarter, compared to analyst estimates of $13.07 million. Heritage Global had a return on equity of 4.69% and a net margin of 6.18%.

About Heritage Global

Heritage Global Inc operates as a global advisory and disposition firm specializing in the valuation, sale and auction of surplus and idle assets. Through its subsidiaries, Heritage Global Partners and Heritage Global Digital, the company delivers comprehensive end-to-end solutions, including asset appraisals, advisory services and multi-channel auction platforms. Its service offerings encompass industrial machinery and equipment, real estate, storage lockers and specialty assets, all designed to maximize recovery values for clients.

The company leverages both online and live in-person events to facilitate timely and transparent sales across diverse asset classes.