Short Interest in Heritage Global Inc. (NASDAQ:HGBL) Grows By 159.9%

Heritage Global Inc. (NASDAQ:HGBL) saw a large increase in short interest in the month of August. As of August 14th, there was short interest totaling 61,774 shares, an increase of 159.9% from the July 30th total of 23,770 shares. Based on an average trading volume of 336,130 shares, the short-interest ratio is currently 0.2 days. Approximately 0.2% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

HGBL has been the topic of a number of research reports. Weiss Ratings cut Heritage Global from a “sell (d+)” rating to a “sell (d-)” rating in a report on Tuesday. Lake Street Capital decreased their target price on Heritage Global from $4.50 to $3.00 and set a “buy” rating on the stock in a research report on Friday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Heritage Global currently has a consensus rating of “Moderate Buy” and an average price target of $3.00.

Institutional Trading of Heritage Global

Institutional investors and hedge funds have recently made changes to their positions in the stock. Punch & Associates Investment Management Inc. boosted its stake in shares of Heritage Global by 0.9% during the 3rd quarter. Punch & Associates Investment Management Inc. now owns 2,475,228 shares of the company’s stock worth $4,109,000 after purchasing an additional 21,175 shares during the last quarter. Mink Brook Asset Management LLC raised its position in shares of Heritage Global by 7.8% in the fourth quarter. Mink Brook Asset Management LLC now owns 2,028,844 shares of the company’s stock valued at $2,516,000 after buying an additional 146,622 shares during the last quarter. Militia Capital Management LLC purchased a new position in shares of Heritage Global during the first quarter valued at approximately $767,000. Rothschild Wealth LLC purchased a new position in shares of Heritage Global during the fourth quarter valued at approximately $447,000. Finally, Evernest Financial Advisors LLC acquired a new stake in Heritage Global during the first quarter worth approximately $274,000. 33.46% of the stock is currently owned by hedge funds and other institutional investors.

Heritage Global Stock Performance

NASDAQ:HGBL opened at $1.24 on Friday. The company has a current ratio of 1.69, a quick ratio of 1.29 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $42.95 million, a P/E ratio of -3.02 and a beta of 0.45. The firm has a 50-day moving average price of $1.18 and a two-hundred day moving average price of $1.26. Heritage Global has a twelve month low of $1.01 and a twelve month high of $1.96.

Heritage Global (NASDAQ:HGBL) last announced its quarterly earnings results on Thursday, August 13th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.50). The business had revenue of $12.27 million during the quarter, compared to analysts’ expectations of $13.29 million. Heritage Global had a negative net margin of 29.63% and a positive return on equity of 6.12%.

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.