Heritage Global Inc. (NASDAQ:HGBL) Short Interest Down 70.4% in July

Heritage Global Inc. (NASDAQ:HGBL) saw a significant decline in short interest in the month of July. As of July 15th, there was short interest totaling 17,834 shares, a decline of 70.4% from the June 30th total of 60,166 shares. Approximately 0.1% of the company’s shares are sold short. Based on an average trading volume of 63,519 shares, the days-to-cover ratio is currently 0.3 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut shares of Heritage Global from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Heritage Global currently has an average rating of “Moderate Buy” and an average target price of $4.50.

Heritage Global Price Performance

Shares of Heritage Global stock remained flat at $1.20 on Monday. The company had a trading volume of 143,290 shares, compared to its average volume of 177,138. The firm’s 50 day moving average price is $1.24 and its two-hundred day moving average price is $1.30. Heritage Global has a 52 week low of $1.13 and a 52 week high of $2.20. The company has a market cap of $41.69 million, a P/E ratio of 12.00 and a beta of 0.43. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.95 and a quick ratio of 1.51.

Heritage Global (NASDAQ:HGBL) last issued its earnings results on Thursday, May 7th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). The business had revenue of $12.73 million during the quarter, compared to the consensus estimate of $13.49 million. Heritage Global had a return on equity of 4.86% and a net margin of 6.45%.

Insider Buying and Selling

In other news, insider Nicholas Kirk Dove bought 26,000 shares of the firm’s stock in a transaction on Thursday, May 21st. The stock was acquired at an average price of $1.22 per share, with a total value of $31,720.00. Following the transaction, the insider owned 126,000 shares of the company’s stock, valued at $153,720. This trade represents a 26.00% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 15.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Heritage Global

Large investors have recently bought and sold shares of the stock. Militia Capital Management LLC acquired a new stake in Heritage Global in the first quarter valued at approximately $767,000. Rothschild Wealth LLC acquired a new position in shares of Heritage Global during the fourth quarter worth approximately $447,000. Evernest Financial Advisors LLC acquired a new position in shares of Heritage Global during the first quarter worth approximately $274,000. Mink Brook Asset Management LLC lifted its holdings in shares of Heritage Global by 7.8% in the 4th quarter. Mink Brook Asset Management LLC now owns 2,028,844 shares of the company’s stock worth $2,516,000 after purchasing an additional 146,622 shares in the last quarter. Finally, Susquehanna International Group LLP bought a new position in shares of Heritage Global in the 3rd quarter worth $71,000. 33.46% of the stock is currently owned by institutional investors and hedge funds.

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.