Zacks Investment Research upgraded shares of Liquidity Services, Inc. (NASDAQ:LQDT) from a sell rating to a hold rating in a report released on Wednesday.

According to Zacks, “Liquidity Services, Inc. is a leading online auction marketplace for wholesale, surplus and salvage assets. LSI enables its corporate and government sellers to enhance their financial return on excess assets by providing a liquid marketplace and value-added services that integrate sales and marketing, logistics and transaction settlement into a single offering. LSI has developed and deployed highly successful online sales programs on a significant scale for clients including large corporations and government agencies to maximize the market reach and recovery value of surplus assets in a timely manner. “

A number of other brokerages also recently issued reports on LQDT. ValuEngine raised Liquidity Services from a strong sell rating to a sell rating in a report on Friday, June 2nd. Robert W. Baird reissued a neutral rating on shares of Liquidity Services in a report on Monday, July 3rd.

Shares of Liquidity Services (NASDAQ:LQDT) traded up 0.43% during trading on Wednesday, reaching $5.85. 70,315 shares of the company traded hands. The company’s market capitalization is $184.29 million. The company’s 50-day moving average price is $6.29 and its 200-day moving average price is $7.11. Liquidity Services has a 52 week low of $5.75 and a 52 week high of $11.49.

Liquidity Services (NASDAQ:LQDT) last announced its quarterly earnings results on Thursday, August 3rd. The business services provider reported ($0.22) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.25) by $0.03. Liquidity Services had a negative return on equity of 16.59% and a negative net margin of 27.52%. The company had revenue of $65.50 million during the quarter, compared to the consensus estimate of $79.56 million. During the same period in the previous year, the company posted $0.07 earnings per share. Liquidity Services’s revenue for the quarter was down 23.1% on a year-over-year basis. Equities research analysts forecast that Liquidity Services will post ($0.91) EPS for the current fiscal year.

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Several hedge funds and other institutional investors have recently made changes to their positions in LQDT. Arizona State Retirement System increased its position in shares of Liquidity Services by 1.6% in the first quarter. Arizona State Retirement System now owns 12,737 shares of the business services provider’s stock valued at $102,000 after buying an additional 200 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in shares of Liquidity Services by 16.2% in the first quarter. Public Employees Retirement System of Ohio now owns 13,017 shares of the business services provider’s stock valued at $104,000 after buying an additional 1,816 shares during the last quarter. Thrivent Financial For Lutherans increased its position in shares of Liquidity Services by 5.2% in the first quarter. Thrivent Financial For Lutherans now owns 13,770 shares of the business services provider’s stock valued at $110,000 after buying an additional 680 shares during the last quarter. Texas Permanent School Fund increased its position in shares of Liquidity Services by 1.2% in the second quarter. Texas Permanent School Fund now owns 17,931 shares of the business services provider’s stock valued at $114,000 after buying an additional 204 shares during the last quarter. Finally, Citadel Advisors LLC increased its position in shares of Liquidity Services by 57.3% in the first quarter. Citadel Advisors LLC now owns 17,141 shares of the business services provider’s stock valued at $137,000 after buying an additional 6,241 shares during the last quarter. 66.27% of the stock is owned by institutional investors and hedge funds.

About Liquidity Services

Liquidity Services, Inc operates a network of e-commerce marketplaces that enable buyers and sellers to transact in an automated environment. The Company employs e-commerce marketplace solutions to manage, value and sell inventory and equipment for business and government clients. The Company’s marketplaces provide professional buyers access to a global supply of new, surplus and scrap assets presented with digital images and other relevant product information.

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