Heritage Global Inc. (NASDAQ:HGBL) Short Interest Down 84.7% in September

Heritage Global Inc. (NASDAQ:HGBL) was the recipient of a significant drop in short interest in the month of September. As of September 30th, there was short interest totaling 6,600 shares, a drop of 84.7% from the September 15th total of 43,000 shares. Based on an average trading volume of 65,600 shares, the short-interest ratio is currently 0.1 days. Approximately 0.0% of the shares of the company are short sold. Approximately 0.0% of the shares of the company are short sold. Based on an average trading volume of 65,600 shares, the short-interest ratio is currently 0.1 days.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on HGBL shares. Weiss Ratings reissued a “hold (c-)” rating on shares of Heritage Global in a research note on Wednesday, October 8th. Zacks Research raised Heritage Global to a “hold” rating in a research note on Thursday, September 4th. Finally, Singular Research raised Heritage Global to a “strong-buy” rating in a research note on Tuesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Heritage Global presently has an average rating of “Moderate Buy” and an average target price of $4.00.

Hedge Funds Weigh In On Heritage Global

A number of large investors have recently bought and sold shares of HGBL. Evergreen Capital Management LLC bought a new position in shares of Heritage Global in the 2nd quarter worth $26,000. Wealth Enhancement Advisory Services LLC purchased a new position in Heritage Global in the first quarter valued at about $56,000. Ridgewood Investments LLC raised its holdings in Heritage Global by 6.9% in 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 in the last quarter. Ancora Advisors LLC lifted its position in shares of Heritage Global by 1.2% during the first quarter. Ancora Advisors LLC now owns 514,269 shares of the company’s stock valued at $1,121,000 after buying an additional 6,000 shares during the last quarter. Finally, Militia Capital Partners LP lifted its position in shares of Heritage Global by 6.6% during the first quarter. Militia Capital Partners LP now owns 584,478 shares of the company’s stock valued at $1,274,000 after buying an additional 36,000 shares during the last quarter. Institutional investors own 33.46% of the company’s stock.

Heritage Global Trading Down 3.8%

Shares of HGBL stock opened at $1.52 on Friday. 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 has a market cap of $52.80 million, a P/E ratio of 15.20 and a beta of 0.65. The business has a 50-day moving average price of $1.79 and a two-hundred day moving average price of $2.00. Heritage Global has a 12-month low of $1.51 and a 12-month high of $2.39.

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

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.