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

Heritage Global Inc. (NASDAQ:HGBL) was the target of a large decrease in short interest in 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 volume of 49,746 shares, the short-interest ratio is presently 4.7 days. Currently, 0.8% of the shares of the stock are short sold. Currently, 0.8% of the shares of the stock are short sold. Based on an average daily volume of 49,746 shares, the short-interest ratio is presently 4.7 days.

Heritage Global Trading Down 4.9%

Shares of NASDAQ:HGBL traded down $0.06 during trading on Friday, reaching $1.17. The stock had a trading volume of 270,226 shares, compared to its average volume of 45,469. Heritage Global has a 52 week low of $1.15 and a 52 week high of $2.39. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.89 and a current ratio of 2.29. The firm’s fifty day moving average is $1.33 and its 200 day moving average is $1.44. The stock has a market cap of $40.65 million, a price-to-earnings ratio of 10.64 and a beta of 0.51.

Heritage Global (NASDAQ:HGBL) last released its 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 firm had revenue of $11.86 million during the quarter, compared to analyst estimates of $12.89 million. Heritage Global had a net margin of 7.04% and a return on equity of 5.45%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on HGBL shares. Weiss Ratings reissued a “sell (d+)” rating on shares of Heritage Global in a research note on Monday, December 29th. Lake Street Capital began coverage on Heritage Global in a research report on Friday. They issued a “buy” rating and a $4.50 price target on the stock. One investment 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 data from MarketBeat.com, Heritage Global has an average rating of “Moderate Buy” and an average price target of $4.50.

Hedge Funds Weigh In On Heritage Global

Institutional investors have recently made changes to their positions in the stock. Evergreen Capital Management LLC acquired a new stake in shares of Heritage Global in the 2nd quarter valued at about $26,000. Virtu Financial LLC acquired a new position in Heritage Global during the 3rd quarter worth approximately $28,000. GSA Capital Partners LLP boosted its holdings in Heritage Global by 103.0% in 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 in the last quarter. XTX Topco Ltd bought a new position in Heritage Global in the fourth quarter worth approximately $31,000. Finally, Jane Street Group LLC grew its stake in Heritage Global by 196.2% in the fourth quarter. Jane Street Group LLC now owns 29,651 shares of the company’s stock valued at $37,000 after acquiring an additional 19,642 shares during the period. Institutional investors and hedge funds 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.