Heritage Global Inc. (NASDAQ:HGBL) Short Interest Up 6,883.5% in January

Heritage Global Inc. (NASDAQ:HGBL) was the target of a large increase in short interest in the month of January. As of January 15th, there was short interest totaling 590,107 shares, an increase of 6,883.5% from the December 31st total of 8,450 shares. Approximately 2.0% of the shares of the company are short sold. Based on an average daily trading volume, of 1,399,288 shares, the short-interest ratio is presently 0.4 days. Based on an average daily trading volume, of 1,399,288 shares, the short-interest ratio is presently 0.4 days. Approximately 2.0% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (d+)” rating on shares of Heritage Global in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Heritage Global has an average rating of “Moderate Buy” and an average target price of $4.00.

Institutional Trading of Heritage Global

A number of hedge funds have recently modified their holdings of the company. Evergreen Capital Management LLC bought a new stake in shares of Heritage Global during the second quarter valued at approximately $26,000. Virtu Financial LLC acquired a new stake in Heritage Global during the third quarter worth $28,000. GSA Capital Partners LLP increased its holdings in Heritage Global by 103.0% in the 3rd quarter. GSA Capital Partners LLP now owns 21,928 shares of the company’s stock valued at $36,000 after buying an additional 11,126 shares during the period. Susquehanna International Group LLP bought a new stake in Heritage Global in the 3rd quarter valued at $71,000. Finally, Citadel Advisors LLC raised its stake in shares of Heritage Global by 17.0% in the 3rd quarter. Citadel Advisors LLC now owns 73,465 shares of the company’s stock valued at $122,000 after buying an additional 10,672 shares in the last quarter. Institutional investors own 33.46% of the company’s stock.

Heritage Global Price Performance

NASDAQ:HGBL opened at $1.40 on Thursday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.29 and a quick ratio of 1.89. Heritage Global has a one year low of $1.21 and a one year high of $2.39. The company has a fifty day moving average price of $1.32 and a 200 day moving average price of $1.61. The stock has a market cap of $48.64 million, a P/E ratio of 15.56 and a beta of 0.50.

Heritage Global (NASDAQ:HGBL) last posted its quarterly earnings results on Thursday, November 6th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.03). The company had revenue of $11.36 million during the quarter, compared to analyst estimates of $13.07 million. Heritage Global had a return on equity of 4.69% and a net margin of 6.18%.

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.