Heritage Global Inc. (NASDAQ:HGBL) Short Interest Update

Heritage Global Inc. (NASDAQ:HGBL) was the target of a significant growth in short interest during the month of August. As of August 14th, there was short interest totaling 61,774 shares, a growth of 159.9% from the July 30th total of 23,770 shares. Currently, 0.2% of the company’s stock are sold short. Based on an average daily volume of 336,130 shares, the short-interest ratio is presently 0.2 days.

Institutional Trading of Heritage Global

Several hedge funds have recently made changes to their positions in HGBL. Evergreen Capital Management LLC bought a new position in Heritage Global during the 2nd quarter worth $26,000. Virtu Financial LLC bought a new stake in Heritage Global in the third quarter valued at $28,000. XTX Topco Ltd acquired a new position in shares of Heritage Global during the fourth quarter valued at $31,000. Jane Street Group LLC boosted its holdings in shares of Heritage Global by 196.2% during 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. Finally, Goldman Sachs Group Inc. grew its position in shares of 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 acquiring an additional 11,512 shares during the last quarter. Institutional investors own 33.46% of the company’s stock.

Heritage Global Stock Performance

Shares of Heritage Global stock traded down $0.04 during trading hours on Friday, reaching $1.24. The company’s stock had a trading volume of 197,711 shares, compared to its average volume of 398,656. Heritage Global has a one year low of $1.01 and a one year high of $1.96. The company’s 50 day simple moving average is $1.18 and its 200 day simple moving average is $1.26. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.29 and a current ratio of 1.69. The stock has a market cap of $42.95 million, a P/E ratio of -3.02 and a beta of 0.45.

Heritage Global (NASDAQ:HGBL) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($0.46) earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.50). Heritage Global had a negative net margin of 29.63% and a positive return on equity of 6.12%. The business had revenue of $12.27 million for the quarter, compared to the consensus estimate of $13.29 million.

Analyst Upgrades and Downgrades

Several analysts have issued reports on HGBL shares. Lake Street Capital cut their price objective on Heritage Global from $4.50 to $3.00 and set a “buy” rating on the stock in a research note on Friday, August 14th. Weiss Ratings lowered Heritage Global from a “sell (d+)” rating to a “sell (d-)” rating in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Heritage Global presently has an average rating of “Moderate Buy” and a consensus price target of $3.00.

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.