Lake Street Capital Begins Coverage on Heritage Global (NASDAQ:HGBL)

Research analysts at Lake Street Capital assumed coverage on shares of Heritage Global (NASDAQ:HGBL) in a research report issued to clients and investors on Friday, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $4.50 price target on the stock. Lake Street Capital’s price objective would suggest a potential upside of 273.44% from the stock’s current price.

Separately, Weiss Ratings reissued a “sell (d+)” rating on shares of Heritage Global in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned 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, the company has a consensus rating of “Moderate Buy” and an average price target of $4.50.

Heritage Global Trading Down 2.0%

Shares of HGBL stock traded down $0.03 during trading hours on Friday, hitting $1.21. 64,526 shares of the company were exchanged, compared to its average volume of 354,893. The firm has a market cap of $41.86 million, a PE ratio of 13.39 and a beta of 0.51. Heritage Global has a 1 year low of $1.19 and a 1 year high of $2.39. The company has a quick ratio of 1.89, a current ratio of 2.29 and a debt-to-equity ratio of 0.06. The firm has a fifty day moving average of $1.33 and a 200 day moving average of $1.45.

Heritage Global (NASDAQ:HGBL) last released its earnings results on Thursday, March 12th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.04). Heritage Global had a net margin of 6.18% and a return on equity of 4.69%. The company had revenue of $11.86 million during the quarter, compared to analysts’ expectations of $12.89 million.

Institutional Trading of Heritage Global

Several large investors have recently added to or reduced their stakes in the stock. Citadel Advisors LLC raised its position in Heritage Global by 17.0% in the third quarter. Citadel Advisors LLC now owns 73,465 shares of the company’s stock valued at $122,000 after purchasing an additional 10,672 shares during the period. GSA Capital Partners LLP grew its stake in shares of Heritage Global by 103.0% in the third quarter. GSA Capital Partners LLP now owns 21,928 shares of the company’s stock valued at $36,000 after buying an additional 11,126 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings 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 during the period. Evergreen Capital Management LLC acquired a new position in Heritage Global during the 2nd quarter worth approximately $26,000. Finally, Mink Brook Asset Management LLC boosted its holdings in Heritage Global by 0.8% in the 3rd quarter. Mink Brook Asset Management LLC now owns 1,882,222 shares of the company’s stock worth $3,124,000 after acquiring an additional 15,201 shares during the period. 33.46% of the stock is currently owned by institutional investors and hedge funds.

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.