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

Heritage Global Inc. (NASDAQ:HGBL) was the target of a large drop in short interest in the month of July. As of July 15th, there was short interest totalling 26,800 shares, a drop of 6.6% from the June 30th total of 28,700 shares. Currently, 0.1% of the company’s shares are sold short. Based on an average trading volume of 67,000 shares, the short-interest ratio is currently 0.4 days.

Heritage Global Stock Up 3.4 %

Shares of NASDAQ:HGBL traded up $0.08 during trading on Wednesday, hitting $2.43. 31,348 shares of the company were exchanged, compared to its average volume of 69,570. The stock has a market cap of $90.74 million, a price-to-earnings ratio of 8.10 and a beta of 1.20. The firm has a fifty day moving average price of $2.39 and a two-hundred day moving average price of $2.59. Heritage Global has a fifty-two week low of $2.12 and a fifty-two week high of $3.81. The company has a current ratio of 2.07, a quick ratio of 1.73 and a debt-to-equity ratio of 0.08.

Heritage Global (NASDAQ:HGBL) last issued its earnings results on Thursday, May 9th. The company reported $0.05 earnings per share for the quarter. The business had revenue of $12.16 million during the quarter. Heritage Global had a return on equity of 20.56% and a net margin of 20.40%.

Institutional Trading of Heritage Global

A number of institutional investors have recently made changes to their positions in HGBL. Janus Henderson Group PLC purchased a new position in Heritage Global during the first quarter valued at approximately $54,000. Ridgewood Investments LLC raised its stake in Heritage Global by 3.9% in the first quarter. Ridgewood Investments LLC now owns 197,547 shares of the company’s stock valued at $522,000 after buying an additional 7,500 shares during the last quarter. Connective Capital Management LLC acquired a new position in Heritage Global in the 1st quarter worth approximately $538,000. 1492 Capital Management LLC increased its holdings in Heritage Global by 173.8% in the fourth quarter. 1492 Capital Management LLC now owns 303,621 shares of the company’s stock valued at $844,000 after buying an additional 192,711 shares in the last quarter. Finally, Herr Investment Group LLC lifted its stake in Heritage Global by 10.7% in the 1st quarter. Herr Investment Group LLC now owns 432,900 shares of the company’s stock valued at $1,143,000 after buying an additional 42,000 shares in the last quarter. Hedge funds and other institutional investors 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.