Short Interest in Heritage Global Inc. (NASDAQ:HGBL) Declines By 26.9%

Heritage Global Inc. (NASDAQ:HGBL) saw a significant decline in short interest in the month of February. As of February 27th, there was short interest totaling 235,582 shares, a decline of 26.9% from the February 12th total of 322,390 shares. Based on an average daily volume of 49,746 shares, the days-to-cover ratio is currently 4.7 days. Approximately 0.8% of the company’s shares are short sold. Approximately 0.8% of the company’s shares are short sold. Based on an average daily volume of 49,746 shares, the days-to-cover ratio is currently 4.7 days.

Institutional Trading of Heritage Global

Institutional investors and hedge funds have recently bought and sold shares of the business. Evergreen Capital Management LLC purchased a new position in shares of Heritage Global in the second quarter valued at approximately $26,000. Virtu Financial LLC purchased a new stake in Heritage Global during the 3rd quarter worth approximately $28,000. XTX Topco Ltd acquired a new stake in Heritage Global during the 4th quarter worth approximately $31,000. GSA Capital Partners LLP lifted its holdings in Heritage Global by 103.0% during 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 in the last quarter. Finally, Jane Street Group LLC boosted its position in Heritage Global by 196.2% in the 4th quarter. Jane Street Group LLC now owns 29,651 shares of the company’s stock valued at $37,000 after buying an additional 19,642 shares during the period. 33.46% of the stock is currently owned by hedge funds and other institutional investors.

Heritage Global Trading Up 2.6%

NASDAQ:HGBL traded up $0.03 during trading hours on Monday, reaching $1.20. 78,776 shares of the stock were exchanged, compared to its average volume of 354,486. Heritage Global has a twelve month low of $1.13 and a twelve month high of $2.39. The business has a 50-day moving average of $1.33 and a two-hundred day moving average of $1.44. The company has a market capitalization of $41.69 million, a price-to-earnings ratio of 10.91 and a beta of 0.51. The company has a quick ratio of 1.78, a current ratio of 2.16 and a debt-to-equity ratio of 0.06.

Heritage Global (NASDAQ:HGBL) last issued its quarterly earnings data 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 net margin of 7.04% and a return on equity of 5.42%. The firm had revenue of $11.86 million during the quarter, compared to analyst estimates of $12.89 million.

Analyst Ratings Changes

A number of analysts recently issued reports on HGBL shares. Weiss Ratings reissued a “sell (d+)” rating on shares of Heritage Global in a research report on Monday, December 29th. Lake Street Capital started coverage on shares of Heritage Global in a research report on Friday. They set a “buy” rating and a $4.50 price target for the company. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently 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.