Liquidity Services, Inc. (NASDAQ:LQDT) Lifted to “Hold” at Zacks Investment Research
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.
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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