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 January. As of January 30th, there was short interest totaling 389,735 shares, a drop of 34.0% from the January 15th total of 590,107 shares. Currently, 1.3% of the shares of the company are short sold. Based on an average daily trading volume, of 130,945 shares, the short-interest ratio is currently 3.0 days. Based on an average daily trading volume, of 130,945 shares, the short-interest ratio is currently 3.0 days. Currently, 1.3% of the shares of the company are short sold.

Institutional Investors Weigh In On Heritage Global

A number of institutional investors have recently added to or reduced their stakes in the stock. Mink Brook Asset Management LLC lifted its stake in Heritage Global by 7.8% in the 4th quarter. Mink Brook Asset Management LLC now owns 2,028,844 shares of the company’s stock worth $2,516,000 after purchasing an additional 146,622 shares in the last quarter. Jane Street Group LLC increased its holdings in shares of Heritage Global by 196.2% in the 4th quarter. Jane Street Group LLC now owns 29,651 shares of the company’s stock worth $37,000 after buying an additional 19,642 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Heritage Global by 29.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 49,951 shares of the company’s stock valued at $62,000 after buying an additional 11,512 shares in the last quarter. Susquehanna International Group LLP bought a new stake in Heritage Global during the third quarter worth approximately $71,000. Finally, Punch & Associates Investment Management Inc. lifted its stake in shares of Heritage Global by 0.9% in the 3rd quarter. Punch & Associates Investment Management Inc. now owns 2,475,228 shares of the company’s stock valued at $4,109,000 after purchasing an additional 21,175 shares during the last quarter. 33.46% of the stock is owned by hedge funds and other institutional investors.

Heritage Global Trading Up 1.5%

Shares of HGBL stock opened at $1.34 on Monday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.89 and a current ratio of 2.29. The stock has a fifty day simple moving average of $1.33 and a two-hundred day simple moving average of $1.54. The firm has a market capitalization of $46.55 million, a PE ratio of 14.89 and a beta of 0.53. Heritage Global has a 52-week low of $1.21 and a 52-week high of $2.39.

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 research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $4.00.

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.