Heritage Global Inc. (NASDAQ:HGBL) Short Interest Down 48.4% in December

Heritage Global Inc. (NASDAQ:HGBL) was the target of a large decline in short interest in the month of December. As of December 31st, there was short interest totaling 8,450 shares, a decline of 48.4% from the December 15th total of 16,374 shares. Based on an average daily trading volume, of 102,990 shares, the short-interest ratio is currently 0.1 days. Currently, 0.0% of the shares of the company are sold short. Currently, 0.0% of the shares of the company are sold short. Based on an average daily trading volume, of 102,990 shares, the short-interest ratio is currently 0.1 days.

Hedge Funds Weigh In On Heritage Global

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HGBL. Evergreen Capital Management LLC acquired a new stake in Heritage Global in the 2nd quarter valued at approximately $26,000. Virtu Financial LLC bought a new position in shares of Heritage Global in the third quarter worth $28,000. GSA Capital Partners LLP increased its holdings in shares of Heritage Global by 103.0% during the third quarter. GSA Capital Partners LLP now owns 21,928 shares of the company’s stock valued at $36,000 after purchasing an additional 11,126 shares during the period. Susquehanna International Group LLP acquired a new position in shares of Heritage Global during the third quarter valued at $71,000. Finally, Citadel Advisors LLC raised its stake in shares of Heritage Global by 17.0% during the third quarter. Citadel Advisors LLC now owns 73,465 shares of the company’s stock valued at $122,000 after purchasing an additional 10,672 shares in the last quarter. 33.46% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (d+)” rating on shares of Heritage Global in a report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Heritage Global currently has an average rating of “Moderate Buy” and a consensus target price of $4.00.

Heritage Global Stock Performance

Shares of Heritage Global stock traded up $0.02 during trading on Thursday, hitting $1.42. 428,939 shares of the stock were exchanged, compared to its average volume of 749,114. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.89 and a current ratio of 2.29. Heritage Global has a 12 month low of $1.21 and a 12 month high of $2.39. The stock’s fifty day moving average is $1.30 and its 200 day moving average is $1.67. The stock has a market cap of $49.33 million, a PE ratio of 15.78 and a beta of 0.50.

Heritage Global (NASDAQ:HGBL) last posted its earnings results on Thursday, November 6th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.03). Heritage Global had a net margin of 6.18% and a return on equity of 4.69%. The firm had revenue of $11.36 million for the quarter, compared to analyst estimates of $13.07 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.