Heritage Global Inc. (NASDAQ:HGBL) Short Interest Update

Heritage Global Inc. (NASDAQ:HGBL) was the recipient of a significant drop in short interest in the month of March. As of March 13th, there was short interest totaling 193,982 shares, a drop of 17.7% from the February 26th total of 235,582 shares. Based on an average daily volume of 62,083 shares, the short-interest ratio is presently 3.1 days. Approximately 0.6% of the shares of the stock are sold short.

Heritage Global Stock Performance

Heritage Global stock traded up $0.01 during midday trading on Monday, reaching $1.37. 31,616 shares of the stock traded hands, compared to its average volume of 315,643. The firm has a fifty day moving average price of $1.32 and a two-hundred day moving average price of $1.40. Heritage Global has a fifty-two week low of $1.13 and a fifty-two week high of $2.32. The firm has a market cap of $47.42 million, a price-to-earnings ratio of 12.41 and a beta of 0.51. The company has a current ratio of 2.16, a quick ratio of 1.78 and a debt-to-equity ratio of 0.06.

Heritage Global (NASDAQ:HGBL) last released its quarterly earnings results on Thursday, March 12th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.04). The company had revenue of $11.86 million for the quarter, compared to the consensus estimate of $12.89 million. Heritage Global had a return on equity of 5.42% and a net margin of 7.04%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Lake Street Capital assumed coverage on shares of Heritage Global in a research report on Friday, March 13th. They issued a “buy” rating and a $4.50 price objective for the company. Weiss Ratings reissued a “sell (d+)” rating on shares of Heritage Global in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Heritage Global has an average rating of “Moderate Buy” and an average target price of $4.50.

Institutional Trading of Heritage Global

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Citadel Advisors LLC raised its stake in shares of Heritage Global by 17.0% in the third quarter. Citadel Advisors LLC now owns 73,465 shares of the company’s stock valued at $122,000 after buying an additional 10,672 shares during the period. GSA Capital Partners LLP grew its holdings in shares of Heritage Global by 103.0% during the 3rd 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 period. Goldman Sachs Group Inc. raised its position in shares of Heritage Global by 29.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 49,951 shares of the company’s stock worth $62,000 after acquiring an additional 11,512 shares in the last quarter. Evergreen Capital Management LLC bought a new position in shares of Heritage Global in the 2nd quarter worth approximately $26,000. Finally, Mink Brook Asset Management LLC lifted its stake in shares of Heritage Global by 0.8% in the 3rd quarter. Mink Brook Asset Management LLC now owns 1,882,222 shares of the company’s stock valued at $3,124,000 after purchasing an additional 15,201 shares during the period. 33.46% of the stock is owned by institutional investors.

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.