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

Heritage Global Inc. (NASDAQ:HGBL) was the recipient of a significant decrease in short interest in the month of February. As of February 27th, there was short interest totaling 235,582 shares, a decrease of 26.9% from the February 12th total of 322,390 shares. Based on an average daily trading volume, of 49,746 shares, the days-to-cover ratio is currently 4.7 days. Currently, 0.8% of the company’s shares are short sold. Currently, 0.8% of the company’s shares are short sold. Based on an average daily trading volume, of 49,746 shares, the days-to-cover ratio is currently 4.7 days.

Analysts Set New Price Targets

HGBL has been the subject of several analyst reports. Weiss Ratings restated a “sell (d+)” rating on shares of Heritage Global in a research report on Monday, December 29th. Lake Street Capital assumed coverage on shares of Heritage Global in a research note on Friday. They set a “buy” rating and a $4.50 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $4.50.

Hedge Funds Weigh In On Heritage Global

A number of large investors have recently added to or reduced their stakes in the company. Truffle Hound Capital LLC lifted its holdings in shares of Heritage Global by 41.6% in the second quarter. Truffle Hound Capital LLC now owns 920,157 shares of the company’s stock valued at $2,043,000 after purchasing an additional 270,157 shares in the last quarter. Evergreen Capital Management LLC acquired a new position in Heritage Global during the 2nd quarter worth approximately $26,000. GSA Capital Partners LLP grew its stake 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 in the last quarter. Virtu Financial LLC acquired a new stake in shares of Heritage Global in the third quarter valued at approximately $28,000. Finally, Citadel Advisors LLC lifted its position 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 worth $122,000 after purchasing an additional 10,672 shares in the last quarter. Institutional investors own 33.46% of the company’s stock.

Heritage Global Stock Down 4.9%

Shares of NASDAQ HGBL traded down $0.06 during mid-day trading on Friday, reaching $1.17. 270,226 shares of the company’s stock were exchanged, compared to its average volume of 45,469. Heritage Global has a twelve month low of $1.15 and a twelve month high of $2.39. 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 $40.65 million, a price-to-earnings ratio of 10.64 and a beta of 0.51. The business has a fifty day simple moving average of $1.33 and a 200 day simple moving average of $1.44.

Heritage Global (NASDAQ:HGBL) last posted its earnings results on Thursday, March 12th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.04). Heritage Global had a return on equity of 5.45% and a net margin of 7.04%.The business had revenue of $11.86 million for the quarter, compared to the consensus estimate of $12.89 million.

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.