Short Interest in Liquidity Services Decreases By 24.0% (LQDT)
Liquidity Services (NASDAQ:LQDT) was the target of a significant decrease in short interest during the month of May. As of May 15th, there was short interest totalling 5,179,909 shares, a decrease of 24.0% from the April 30th total of 6,819,953 shares, AnalystRatingsNetwork reports. Based on an average trading volume of 1,969,807 shares, the days-to-cover ratio is currently 2.6 days. Currently, 19.7% of the shares of the stock are sold short.
Several analysts have recently commented on the stock. Analysts at Zacks downgraded shares of Liquidity Services from a “neutral” rating to an “underperform” rating in a research note on Monday, May 19th. They now have a $13.20 price target on the stock. Separately, analysts at Oppenheimer reiterated a “market perform” rating on shares of Liquidity Services in a research note on Friday, May 9th. Finally, analysts at Roth Capital reiterated a “buy” rating on shares of Liquidity Services in a research note on Friday, May 9th. They now have a $23.00 price target on the stock, down previously from $27.00. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $18.44.
Shares of Liquidity Services (NASDAQ:LQDT) opened at 15.46 on Tuesday. Liquidity Services has a 52-week low of $12.05 and a 52-week high of $40.12. The stock has a 50-day moving average of $15.92 and a 200-day moving average of $21.49. The company has a market cap of $495.9 million and a P/E ratio of 14.50.
Liquidity Services (NASDAQ:LQDT) last announced its earnings results on Thursday, May 8th. The company reported $0.25 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.35 by $0.10. The company had revenue of $128.33 million for the quarter, compared to the consensus estimate of $120.18 million. During the same quarter last year, the company posted $0.48 earnings per share. Liquidity Services’s revenue was down 1.5% compared to the same quarter last year. On average, analysts predict that Liquidity Services will post $1.18 earnings per share for the current fiscal year.
Liquidity Services, Inc is an auction marketplace for surplus and salvage assets. The Company enables buyers and sellers to transact in an automated online auction environment offering over 500 product categories.
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