Heritage Global (NASDAQ:HGBL) Stock Price Down 1.6% – Time to Sell?

Heritage Global Inc. (NASDAQ:HGBL)’s stock price traded down 1.6% on Thursday . The company traded as low as $1.2450 and last traded at $1.25. 55,533 shares changed hands during trading, an increase of 5% from the average session volume of 53,042 shares. The stock had previously closed at $1.27.

Analyst Ratings Changes

A number of equities analysts have weighed in on HGBL shares. Weiss Ratings reiterated a “sell (d+)” rating on shares of Heritage Global in a report on Friday, March 27th. Lake Street Capital began coverage on Heritage Global in a report on Friday, March 13th. They set a “buy” rating and a $4.50 price objective for the company. One 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 issued a Sell rating to the company. Based on data from MarketBeat, Heritage Global currently has an average rating of “Moderate Buy” and a consensus price target of $4.50.

Heritage Global Stock Down 1.6%

The firm has a market capitalization of $43.42 million, a price-to-earnings ratio of 12.50 and a beta of 0.42. The company has a current ratio of 1.95, a quick ratio of 1.51 and a debt-to-equity ratio of 0.06. The firm has a 50 day moving average price of $1.31 and a two-hundred day moving average price of $1.31.

Heritage Global (NASDAQ:HGBL) last posted its earnings results on Thursday, May 7th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). Heritage Global had a return on equity of 4.86% and a net margin of 6.45%.The business had revenue of $12.73 million for the quarter, compared to analyst estimates of $13.49 million.

Insider Transactions at Heritage Global

In other Heritage Global news, insider Nicholas Kirk Dove acquired 26,000 shares of the firm’s stock in a transaction on Thursday, May 21st. The stock was bought at an average cost of $1.22 per share, for a total transaction of $31,720.00. Following the completion of the purchase, the insider directly owned 126,000 shares in the company, valued at $153,720. This represents a 26.00% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 14.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Heritage Global

Several hedge funds and other institutional investors have recently made changes to their positions in HGBL. Militia Capital Management LLC purchased a new stake in Heritage Global during the 1st quarter worth $767,000. Evernest Financial Advisors LLC acquired a new stake in Heritage Global in the 1st quarter valued at $274,000. XTX Topco Ltd purchased a new position in Heritage Global in the fourth quarter valued at about $31,000. Rothschild Wealth LLC purchased a new position in Heritage Global in the fourth quarter valued at about $447,000. Finally, Mink Brook Asset Management LLC lifted its stake in shares of 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 purchasing an additional 146,622 shares in the last quarter. Institutional investors and hedge funds own 33.46% of the company’s stock.

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.