Heritage Global (NASDAQ:HGBL) Shares Up 3% – Should You Buy?

Heritage Global Inc. (NASDAQ:HGBL)’s share price shot up 3% during trading on Monday . The stock traded as high as $1.43 and last traded at $1.39. 50,954 shares changed hands during mid-day trading, an increase of 13% from the average session volume of 45,242 shares. The stock had previously closed at $1.35.

Wall Street Analysts Forecast Growth

HGBL has been the subject of a number of recent analyst reports. Zacks Research upgraded shares of Heritage Global to a “hold” rating in a research note on Thursday, September 4th. Singular Research raised shares of Heritage Global to a “strong-buy” rating in a report on Tuesday, September 2nd. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Heritage Global in a research note on Monday, December 8th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Heritage Global has a consensus rating of “Moderate Buy” and an average target price of $4.00.

Heritage Global Stock Performance

The firm has a fifty day moving average of $1.40 and a 200 day moving average of $1.80. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.29 and a quick ratio of 1.89. The stock has a market capitalization of $48.29 million, a price-to-earnings ratio of 15.44 and a beta of 0.62.

Heritage Global (NASDAQ:HGBL) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.02 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 analysts’ expectations of $13.07 million. Heritage Global had a return on equity of 4.69% and a net margin of 6.18%.

Institutional Trading of Heritage Global

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Evergreen Capital Management LLC purchased a new position in Heritage Global in the second quarter valued at $26,000. Virtu Financial LLC acquired a new stake in shares of Heritage Global during the 3rd quarter valued at about $28,000. GSA Capital Partners LLP increased its stake in shares of 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 purchasing an additional 11,126 shares in the last quarter. Susquehanna International Group LLP acquired a new position in Heritage Global in the 3rd quarter worth about $71,000. Finally, Citadel Advisors LLC raised its holdings in Heritage Global by 17.0% in the 3rd quarter. Citadel Advisors LLC now owns 73,465 shares of the company’s stock worth $122,000 after purchasing an additional 10,672 shares during the period. 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.