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

Heritage Global Inc. (NASDAQ:HGBL) was the recipient of a large increase in short interest in 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. Based on an average daily trading volume, of 1,399,288 shares, the days-to-cover ratio is currently 0.4 days. Currently, 2.0% of the shares of the stock are short sold. Currently, 2.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,399,288 shares, the days-to-cover ratio is currently 0.4 days.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of HGBL. Evergreen Capital Management LLC purchased a new position in shares of Heritage Global during the 2nd quarter worth about $26,000. Virtu Financial LLC acquired a new position in Heritage Global during the third quarter worth approximately $28,000. GSA Capital Partners LLP raised its stake in Heritage Global by 103.0% during the third quarter. GSA Capital Partners LLP now owns 21,928 shares of the company’s stock worth $36,000 after purchasing an additional 11,126 shares during the period. Susquehanna International Group LLP acquired a new position in shares of Heritage Global in the 3rd quarter valued at $71,000. Finally, Citadel Advisors LLC grew its stake in shares of Heritage Global by 17.0% during 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 during the period. Institutional investors and hedge funds own 33.46% of the company’s stock.

Heritage Global Price Performance

Shares of NASDAQ HGBL opened at $1.38 on Wednesday. The firm has a market cap of $47.94 million, a P/E ratio of 15.33 and a beta of 0.50. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.89 and a current ratio of 2.29. Heritage Global has a 1 year low of $1.21 and a 1 year high of $2.39. The firm’s 50 day moving average price is $1.31 and its 200 day moving average price is $1.61.

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

Heritage Global Company Profile

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.