Heritage Global Inc. (NASDAQ:HGBL) Sees Large Drop in Short Interest

Heritage Global Inc. (NASDAQ:HGBL) saw a significant drop in short interest in December. As of December 31st, there was short interest totaling 8,450 shares, a drop of 48.4% from the December 15th total of 16,374 shares. Approximately 0.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 102,990 shares, the short-interest ratio is presently 0.1 days. Based on an average daily trading volume, of 102,990 shares, the short-interest ratio is presently 0.1 days. Approximately 0.0% of the shares of the stock are sold short.

Heritage Global Trading Up 1.4%

Shares of Heritage Global stock traded up $0.02 during trading hours on Friday, reaching $1.44. 208,782 shares of the company’s stock were exchanged, compared to its average volume of 758,409. Heritage Global has a 52-week low of $1.21 and a 52-week high of $2.39. The company has a fifty day moving average of $1.30 and a 200-day moving average of $1.67. The company has a current ratio of 2.29, a quick ratio of 1.89 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $50.03 million, a price-to-earnings ratio of 16.00 and a beta of 0.50.

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

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Heritage Global in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $4.00.

Hedge Funds Weigh In On Heritage Global

A number of large investors have recently bought and sold shares of HGBL. Evergreen Capital Management LLC purchased a new position in shares of Heritage Global in the 2nd quarter worth $26,000. Virtu Financial LLC acquired a new stake in Heritage Global during the third quarter worth about $28,000. GSA Capital Partners LLP increased its stake in Heritage Global by 103.0% during the third quarter. GSA Capital Partners LLP now owns 21,928 shares of the company’s stock worth $36,000 after acquiring an additional 11,126 shares during the last quarter. Susquehanna International Group LLP purchased a new position in shares of Heritage Global in the 3rd quarter worth about $71,000. Finally, Citadel Advisors LLC lifted its stake in shares of Heritage Global by 17.0% in the 3rd quarter. Citadel Advisors LLC now owns 73,465 shares of the company’s stock valued at $122,000 after purchasing an additional 10,672 shares in the last quarter. Hedge funds and other institutional investors own 33.46% of the company’s stock.

Heritage Global Company Profile

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.