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

Heritage Global Inc. (NASDAQ:HGBL) was the target of a large decline in short interest during the month of March. As of March 15th, there was short interest totalling 24,000 shares, a decline of 16.4% from the February 28th total of 28,700 shares. Approximately 0.1% of the shares of the company are sold short. Based on an average daily trading volume, of 73,000 shares, the short-interest ratio is presently 0.3 days.

Analyst Upgrades and Downgrades

Separately, Lake Street Capital cut their price objective on Heritage Global from $5.00 to $4.00 and set a “buy” rating for the company in a report on Friday, March 14th.

Institutional Trading of Heritage Global

Several hedge funds have recently made changes to their positions in the business. Jane Street Group LLC bought a new stake in Heritage Global during the third quarter worth approximately $25,000. NewEdge Advisors LLC purchased a new stake in Heritage Global during the 4th quarter valued at $28,000. Two Sigma Securities LLC bought a new stake in Heritage Global in the fourth quarter worth $28,000. Janus Henderson Group PLC boosted its stake in Heritage Global by 53.2% during the third quarter. Janus Henderson Group PLC now owns 28,982 shares of the company’s stock worth $49,000 after buying an additional 10,068 shares during the period. Finally, Geode Capital Management LLC increased its position in Heritage Global by 2.4% during the third quarter. Geode Capital Management LLC now owns 335,402 shares of the company’s stock valued at $570,000 after acquiring an additional 7,842 shares during the last quarter. 33.46% of the stock is currently owned by hedge funds and other institutional investors.

Heritage Global Trading Up 1.4 %

Heritage Global stock traded up $0.03 during trading on Wednesday, reaching $2.25. The company had a trading volume of 18,262 shares, compared to its average volume of 73,027. Heritage Global has a 52 week low of $1.52 and a 52 week high of $2.74. The firm has a market capitalization of $79.86 million, a price-to-earnings ratio of 8.04 and a beta of 1.22. The firm’s 50-day simple moving average is $2.17 and its 200 day simple moving average is $1.89.

Heritage Global (NASDAQ:HGBL) last announced its quarterly earnings results on Thursday, March 13th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.06). The company had revenue of $10.77 million during the quarter, compared to the consensus estimate of $12.30 million. Heritage Global had a net margin of 20.60% and a return on equity of 16.05%.

Heritage Global Company Profile

Heritage Global Inc, together with its subsidiaries, operates as an asset services company with focus on financial and industrial asset transactions. The company operates in three segments: Auction and Liquidation, Refurbishment & Resale, and Brokerage. It provides a suite of market making, acquisitions, refurbishment, dispositions, valuations, and secured lending services.