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

Heritage Global Inc. (NASDAQ:HGBL) was the recipient of a large drop in short interest during the month of March. As of March 15th, there was short interest totalling 24,000 shares, a drop of 16.4% from the February 28th total of 28,700 shares. Currently, 0.1% of the company’s shares are sold short. Based on an average daily trading volume, of 73,000 shares, the days-to-cover ratio is presently 0.3 days.

Analyst Upgrades and Downgrades

Separately, Lake Street Capital dropped their price target on Heritage Global from $5.00 to $4.00 and set a “buy” rating for the company in a research note on Friday, March 14th.

Institutional Trading of Heritage Global

A number of hedge funds have recently made changes to their positions in HGBL. Topline Capital Management LLC purchased a new position in Heritage Global during the fourth quarter valued at $3,565,000. Mink Brook Asset Management LLC bought a new stake in Heritage Global during the 4th quarter valued at about $3,454,000. Truffle Hound Capital LLC purchased a new position in Heritage Global in the fourth quarter worth about $1,202,000. Geode Capital Management LLC raised its holdings in Heritage Global by 7.8% in the fourth quarter. Geode Capital Management LLC now owns 361,632 shares of the company’s stock worth $669,000 after buying an additional 26,230 shares during the last quarter. Finally, Two Sigma Securities LLC bought a new stake in shares of Heritage Global during the fourth quarter valued at approximately $28,000. 33.46% of the stock is owned by institutional investors.

Heritage Global Trading Up 1.4 %

Heritage Global stock traded up $0.03 during trading hours on Wednesday, hitting $2.25. 18,262 shares of the stock traded hands, compared to its average volume of 73,027. The company has a market cap of $79.86 million, a PE ratio of 8.04 and a beta of 1.22. The firm’s 50-day moving average price is $2.17 and its two-hundred day moving average price is $1.89. Heritage Global has a one year low of $1.52 and a one year high of $2.74.

Heritage Global (NASDAQ:HGBL) last released its earnings results on Thursday, March 13th. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.06). Heritage Global had a return on equity of 16.05% and a net margin of 20.60%. The business had revenue of $10.77 million during the quarter, compared to analysts’ expectations of $12.30 million.

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.