Heritage Global Inc. (NASDAQ:HGBL) Short Interest Down 17.3% in February

Heritage Global Inc. (NASDAQ:HGBL) was the recipient of a large decrease in short interest in February. As of February 13th, there was short interest totaling 322,390 shares, a decrease of 17.3% from the January 29th total of 389,735 shares. Currently, 1.1% of the company’s shares are sold short. Based on an average daily trading volume, of 76,957 shares, the short-interest ratio is presently 4.2 days. Based on an average daily trading volume, of 76,957 shares, the short-interest ratio is presently 4.2 days. Currently, 1.1% of the company’s shares are sold short.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d+)” rating on shares of Heritage Global in a research report on Monday, December 29th. One investment 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 assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $4.00.

Heritage Global Stock Up 1.2%

Shares of HGBL traded up $0.02 during trading hours on Tuesday, reaching $1.32. The stock had a trading volume of 580 shares, compared to its average volume of 426,272. The firm has a 50-day simple moving average of $1.33 and a 200 day simple moving average of $1.48. Heritage Global has a 12 month low of $1.21 and a 12 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 company has a market capitalization of $45.68 million, a price-to-earnings ratio of 14.61 and a beta of 0.51.

Hedge Funds Weigh In On Heritage Global

Large investors have recently added to or reduced their stakes in the business. XTX Topco Ltd purchased a new position in Heritage Global during the 4th quarter worth $31,000. Rothschild Wealth LLC purchased a new stake in shares of Heritage Global in the fourth quarter valued at about $447,000. Mink Brook Asset Management LLC lifted its position in shares of Heritage Global by 7.8% during the fourth quarter. Mink Brook Asset Management LLC now owns 2,028,844 shares of the company’s stock valued at $2,516,000 after purchasing an additional 146,622 shares in the last quarter. Jane Street Group LLC boosted its holdings in Heritage Global by 196.2% during the fourth quarter. Jane Street Group LLC now owns 29,651 shares of the company’s stock worth $37,000 after purchasing an additional 19,642 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in Heritage Global by 29.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 49,951 shares of the company’s stock worth $62,000 after purchasing an additional 11,512 shares during the last quarter. 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.