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

Heritage Global Inc. (NASDAQ:HGBL) was the recipient of a significant decline in short interest in 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. Based on an average daily volume of 73,000 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.1% of the shares of the company are sold short.

Heritage Global Stock Down 3.1 %

Shares of Heritage Global stock traded down $0.07 on Thursday, hitting $2.18. The stock had a trading volume of 6,444 shares, compared to its average volume of 72,766. The stock has a market cap of $77.38 million, a price-to-earnings ratio of 7.79 and a beta of 1.22. Heritage Global has a twelve month low of $1.52 and a twelve month high of $2.74. The business’s 50 day moving average is $2.17 and its two-hundred day moving average is $1.89.

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

Analysts Set New Price Targets

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

Institutional Trading of Heritage Global

Hedge funds and other institutional investors have recently bought and sold shares of the business. Jane Street Group LLC bought a new position in shares of Heritage Global during the third quarter worth approximately $25,000. NewEdge Advisors LLC bought a new position in Heritage Global during the 4th quarter worth $28,000. Two Sigma Securities LLC bought a new position in shares of Heritage Global in the fourth quarter worth $28,000. Janus Henderson Group PLC raised its position in shares of Heritage Global by 53.2% in the 3rd quarter. Janus Henderson Group PLC now owns 28,982 shares of the company’s stock valued at $49,000 after buying an additional 10,068 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Heritage Global by 2.4% during the 3rd quarter. Geode Capital Management LLC now owns 335,402 shares of the company’s stock worth $570,000 after acquiring an additional 7,842 shares during the period. Institutional investors and hedge funds own 33.46% of the company’s stock.

About Heritage Global

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.