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

Heritage Global Inc. (NASDAQ:HGBL) was the target of a large decrease in short interest in the month of March. As of March 13th, there was short interest totaling 193,982 shares, a decrease of 17.7% from the February 26th total of 235,582 shares. Currently, 0.6% of the shares of the stock are sold short. Based on an average trading volume of 62,083 shares, the short-interest ratio is currently 3.1 days.

Institutional Investors Weigh In On Heritage Global

Several hedge funds have recently added to or reduced their stakes in HGBL. Evergreen Capital Management LLC bought a new position in shares of Heritage Global during the 2nd quarter valued at about $26,000. Virtu Financial LLC purchased a new position in shares of Heritage Global during the 3rd quarter valued at about $28,000. XTX Topco Ltd bought a new stake in Heritage Global in the 4th quarter worth approximately $31,000. GSA Capital Partners LLP lifted its position in Heritage Global by 103.0% in the 3rd quarter. GSA Capital Partners LLP now owns 21,928 shares of the company’s stock worth $36,000 after buying an additional 11,126 shares during the last quarter. Finally, Jane Street Group LLC boosted 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 worth $37,000 after buying an additional 19,642 shares in the last quarter. Institutional investors own 33.46% of the company’s stock.

Heritage Global Price Performance

Shares of NASDAQ HGBL traded up $0.01 during midday trading on Tuesday, hitting $1.36. 53,679 shares of the company’s stock were exchanged, compared to its average volume of 311,659. Heritage Global has a 12-month low of $1.13 and a 12-month high of $2.32. The company has a current ratio of 2.16, a quick ratio of 1.78 and a debt-to-equity ratio of 0.06. The company has a market cap of $47.25 million, a price-to-earnings ratio of 12.36 and a beta of 0.51. The business’s fifty day moving average price is $1.32 and its two-hundred day moving average price is $1.39.

Heritage Global (NASDAQ:HGBL) last posted its quarterly earnings data on Thursday, March 12th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.04). Heritage Global had a net margin of 7.04% and a return on equity of 5.42%. The company had revenue of $11.86 million for the quarter, compared to analysts’ expectations of $12.89 million.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Weiss Ratings reissued a “sell (d+)” rating on shares of Heritage Global in a report on Friday. Lake Street Capital assumed coverage on shares of Heritage Global in a report on Friday, March 13th. They issued a “buy” rating and a $4.50 price target on the stock. One research 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’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $4.50.

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.