Heritage Global (NASDAQ:HGBL) Now Covered by Analysts at Lake Street Capital

Equities research analysts at Lake Street Capital initiated coverage on shares of Heritage Global (NASDAQ:HGBL) in a report issued on Friday, Marketbeat.com reports. The firm set a “buy” rating and a $4.50 price target on the stock. Lake Street Capital’s target price suggests a potential upside of 273.44% from the company’s previous close.

Separately, Weiss Ratings restated a “sell (d+)” rating on shares of Heritage Global in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued 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 company has a consensus rating of “Moderate Buy” and a consensus target price of $4.50.

Heritage Global Stock Performance

Shares of HGBL traded down $0.03 during mid-day trading on Friday, reaching $1.21. 64,526 shares of the company’s stock were exchanged, compared to its average volume of 354,893. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.29 and a quick ratio of 1.89. The stock has a market capitalization of $41.86 million, a PE ratio of 13.39 and a beta of 0.51. The business’s fifty day simple moving average is $1.33 and its 200-day simple moving average is $1.45. Heritage Global has a 52-week low of $1.19 and a 52-week high of $2.39.

Heritage Global (NASDAQ:HGBL) last issued its quarterly earnings results on Thursday, March 12th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.04). Heritage Global had a return on equity of 4.69% and a net margin of 6.18%.The business had revenue of $11.86 million for the quarter, compared to analyst estimates of $12.89 million.

Institutional Investors Weigh In On Heritage Global

A number of institutional investors and hedge funds have recently modified their holdings of the company. Truffle Hound Capital LLC boosted its stake in shares of Heritage Global by 41.6% during the second quarter. Truffle Hound Capital LLC now owns 920,157 shares of the company’s stock valued at $2,043,000 after acquiring an additional 270,157 shares during the last quarter. Mink Brook Asset Management LLC boosted its position in 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 worth $2,516,000 after acquiring an additional 146,622 shares during the last quarter. Rothschild Wealth LLC purchased a new stake in Heritage Global in the 4th quarter worth approximately $447,000. Citadel Advisors LLC raised its holdings in Heritage Global by 17.0% in the 3rd quarter. Citadel Advisors LLC now owns 73,465 shares of the company’s stock valued at $122,000 after acquiring an additional 10,672 shares during the last quarter. Finally, Susquehanna International Group LLP purchased a new position in shares of Heritage Global during the 3rd quarter worth $71,000. 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.