Liquidity Services Inc. (LQDT) Shares Up 2%
Liquidity Services Inc. (NASDAQ:LQDT) shares shot up 2% on Tuesday . The company traded as high as $9.64 and last traded at $9.59, with a volume of 75,453 shares trading hands. The stock had previously closed at $9.40.
A number of brokerages have recently weighed in on LQDT. Barrington Research reiterated a “buy” rating on shares of Liquidity Services in a report on Thursday, May 5th. Robert W. Baird reiterated a “hold” rating on shares of Liquidity Services in a report on Sunday, May 8th. Zacks Investment Research downgraded Liquidity Services from a “buy” rating to a “hold” rating in a report on Thursday, July 7th. Finally, Benchmark Co. lifted their price target on Liquidity Services from $5.50 to $6.50 and gave the company a “hold” rating in a report on Friday, May 6th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $6.65.
The stock’s market capitalization is $296.04 million. The stock’s 50 day moving average price is $8.35 and its 200-day moving average price is $6.40.
Liquidity Services (NASDAQ:LQDT) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.16. The firm had revenue of $85.18 million for the quarter, compared to analyst estimates of $72.48 million. During the same period in the prior year, the company posted $0.14 EPS. The firm’s quarterly revenue was down 5.1% compared to the same quarter last year. Equities analysts forecast that Liquidity Services Inc. will post ($0.09) EPS for the current year.
Other hedge funds and institutional investors recently bought and sold shares of the company. Matarin Capital Management LLC bought a new position in Liquidity Services during the fourth quarter worth $1,905,000. Connor Clark & Lunn Investment Management Ltd. increased its position in Liquidity Services by 49.1% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 330,925 shares of the company’s stock worth $2,151,000 after buying an additional 109,025 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in Liquidity Services by 36.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 441,412 shares of the company’s stock worth $2,869,000 after buying an additional 116,750 shares during the period.
Liquidity Services, Inc is an online auction marketplace for surplus and salvage assets. The Company operates through the operating auction marketplaces for sellers and buyers of surplus, salvage and scrap assets segment. The Company enables buyers and sellers to transact in an automated online auction environment offering over 500 product categories.
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