Liquidity Services, Inc. (LQDT) Upgraded by Zacks Investment Research to “Hold”
Liquidity Services, Inc. (NASDAQ:LQDT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Thursday.
According to Zacks, “Liquidity Services, Inc. is a leading online auction marketplace for wholesale, surplus and salvage assets. LSI enables its corporate and government sellers to enhance their financial return on excess assets by providing a liquid marketplace and value-added services that integrate sales and marketing, logistics and transaction settlement into a single offering. LSI has developed and deployed highly successful online sales programs on a significant scale for clients including large corporations and government agencies to maximize the market reach and recovery value of surplus assets in a timely manner. “
Other equities research analysts have also recently issued reports about the stock. Robert W. Baird reissued a “neutral” rating on shares of Liquidity Services in a research report on Monday, July 3rd. ValuEngine raised shares of Liquidity Services from a “strong sell” rating to a “sell” rating in a research report on Friday, June 2nd.
Liquidity Services (NASDAQ LQDT) traded up 3.51% during trading on Thursday, hitting $5.90. The company had a trading volume of 404,619 shares. The firm’s 50 day moving average is $5.99 and its 200-day moving average is $6.82. The stock’s market capitalization is $185.87 million. Liquidity Services has a 52-week low of $5.50 and a 52-week high of $11.49.
Liquidity Services (NASDAQ:LQDT) last announced its quarterly earnings results on Thursday, August 3rd. The business services provider reported ($0.22) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.03. Liquidity Services had a negative net margin of 27.52% and a negative return on equity of 16.59%. The firm had revenue of $65.50 million during the quarter, compared to analysts’ expectations of $79.56 million. During the same period in the previous year, the company earned $0.07 earnings per share. Liquidity Services’s quarterly revenue was down 23.1% compared to the same quarter last year. On average, equities analysts forecast that Liquidity Services will post ($0.91) earnings per share for the current year.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Arizona State Retirement System lifted its position in Liquidity Services by 1.6% in the first quarter. Arizona State Retirement System now owns 12,737 shares of the business services provider’s stock valued at $102,000 after acquiring an additional 200 shares during the last quarter. Public Employees Retirement System of Ohio lifted its position in Liquidity Services by 16.2% in the first quarter. Public Employees Retirement System of Ohio now owns 13,017 shares of the business services provider’s stock valued at $104,000 after acquiring an additional 1,816 shares during the last quarter. Thrivent Financial For Lutherans lifted its position in Liquidity Services by 5.2% in the first quarter. Thrivent Financial For Lutherans now owns 13,770 shares of the business services provider’s stock valued at $110,000 after acquiring an additional 680 shares during the last quarter. Citadel Advisors LLC lifted its position in Liquidity Services by 57.3% in the first quarter. Citadel Advisors LLC now owns 17,141 shares of the business services provider’s stock valued at $137,000 after acquiring an additional 6,241 shares during the last quarter. Finally, Texas Permanent School Fund lifted its position in Liquidity Services by 1.2% in the second quarter. Texas Permanent School Fund now owns 17,931 shares of the business services provider’s stock valued at $114,000 after acquiring an additional 204 shares during the last quarter. 67.63% of the stock is owned by hedge funds and other institutional investors.
Liquidity Services Company Profile
Liquidity Services, Inc operates a network of e-commerce marketplaces that enable buyers and sellers to transact in an automated environment. The Company employs e-commerce marketplace solutions to manage, value and sell inventory and equipment for business and government clients. The Company’s marketplaces provide professional buyers access to a global supply of new, surplus and scrap assets presented with digital images and other relevant product information.
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