Heritage Global (NASDAQ:HGBL) Upgraded at Zacks Research

Zacks Research upgraded shares of Heritage Global (NASDAQ:HGBL) to a hold rating in a report released on Thursday morning,Zacks.com reports.

Separately, Singular Research upgraded shares of Heritage Global to a “strong-buy” rating in a research report on Tuesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, Heritage Global currently has a consensus rating of “Buy” and an average target price of $4.00.

Heritage Global Price Performance

Heritage Global stock opened at $1.89 on Thursday. Heritage Global has a 52 week low of $1.52 and a 52 week high of $2.39. The company has a quick ratio of 1.69, a current ratio of 2.05 and a debt-to-equity ratio of 0.06. The firm’s 50-day simple moving average is $2.08 and its 200 day simple moving average is $2.10. The firm has a market capitalization of $65.66 million, a PE ratio of 18.90 and a beta of 0.82.

Heritage Global (NASDAQ:HGBL) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.05 EPS for the quarter, meeting the consensus estimate of $0.05. The business had revenue of $14.30 million for the quarter, compared to analyst estimates of $12.38 million. Heritage Global had a net margin of 7.33% and a return on equity of 5.47%.

Institutional Trading of Heritage Global

A number of hedge funds have recently bought and sold shares of HGBL. Mink Brook Asset Management LLC acquired a new stake in Heritage Global during the fourth quarter worth approximately $3,454,000. Parkside Advisors LLC acquired a new position in Heritage Global during the first quarter worth approximately $74,000. Wealth Enhancement Advisory Services LLC acquired a new position in Heritage Global during the first quarter worth approximately $56,000. Ridgewood Investments LLC increased its position in Heritage Global by 6.9% during the first quarter. Ridgewood Investments LLC now owns 241,165 shares of the company’s stock worth $526,000 after purchasing an additional 15,588 shares during the last quarter. Finally, Ancora Advisors LLC increased its holdings in shares of Heritage Global by 1.2% during the 1st quarter. Ancora Advisors LLC now owns 514,269 shares of the company’s stock worth $1,121,000 after buying an additional 6,000 shares during the last quarter. Institutional investors and hedge funds own 33.46% of the company’s stock.

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.