Zacks Investment Research upgraded shares of Liquidity Services, Inc. (NASDAQ:LQDT) from a sell rating to a hold rating in a research report sent to investors on Tuesday morning.

According to Zacks, “Liquidity Services, Inc. is a leading online auction marketplace for wholesale, surplus and salvage assets. LSI enables its corporate and government sellers to enhance their financial return on excess assets by providing a liquid marketplace and value-added services that integrate sales and marketing, logistics and transaction settlement into a single offering. LSI has developed and deployed highly successful online sales programs on a significant scale for clients including large corporations and government agencies to maximize the market reach and recovery value of surplus assets in a timely manner. “

Several other equities research analysts have also recently commented on the stock. Robert W. Baird reaffirmed a neutral rating on shares of Liquidity Services in a research report on Monday, July 3rd. ValuEngine raised shares of Liquidity Services from a strong sell rating to a sell rating in a research report on Friday, June 2nd.

Liquidity Services (LQDT) traded down 0.78% during mid-day trading on Tuesday, hitting $6.35. The stock had a trading volume of 24,981 shares. Liquidity Services has a 1-year low of $6.05 and a 1-year high of $11.49. The company has a 50-day moving average price of $6.52 and a 200 day moving average price of $8.09. The company’s market cap is $199.93 million.

Liquidity Services (NASDAQ:LQDT) last announced its quarterly earnings results on Thursday, May 4th. The business services provider reported ($0.21) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.07. The company had revenue of $72.33 million for the quarter, compared to analysts’ expectations of $81.14 million. Liquidity Services had a negative net margin of 22.99% and a negative return on equity of 10.82%. The business’s quarterly revenue was down 16.7% compared to the same quarter last year. During the same period last year, the firm posted $0.04 earnings per share. Equities research analysts forecast that Liquidity Services will post ($0.81) EPS for the current fiscal year.

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Large investors have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio boosted its stake in Liquidity Services by 16.2% in the first quarter. Public Employees Retirement System of Ohio now owns 13,017 shares of the business services provider’s stock valued at $104,000 after buying an additional 1,816 shares in the last quarter. Bank of America Corp DE boosted its stake in Liquidity Services by 94.6% in the first quarter. Bank of America Corp DE now owns 40,679 shares of the business services provider’s stock valued at $326,000 after buying an additional 19,771 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in Liquidity Services by 4.9% in the first quarter. Schwab Charles Investment Management Inc. now owns 98,189 shares of the business services provider’s stock valued at $786,000 after buying an additional 4,617 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Liquidity Services by 11.8% in the first quarter. Renaissance Technologies LLC now owns 1,623,999 shares of the business services provider’s stock valued at $12,992,000 after buying an additional 171,200 shares in the last quarter. Finally, Citadel Advisors LLC boosted its stake in Liquidity Services by 57.3% in the first quarter. Citadel Advisors LLC now owns 17,141 shares of the business services provider’s stock valued at $137,000 after buying an additional 6,241 shares in the last quarter. 67.91% of the stock is currently owned by institutional investors and hedge funds.

Liquidity Services Company Profile

Liquidity Services, Inc operates a network of e-commerce marketplaces that enable buyers and sellers to transact in an automated environment. The Company employs e-commerce marketplace solutions to manage, value and sell inventory and equipment for business and government clients. The Company’s marketplaces provide professional buyers access to a global supply of new, surplus and scrap assets presented with digital images and other relevant product information.

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