Zacks Investment Research upgraded shares of Liquidity Services, Inc. (NASDAQ:LQDT) from a sell rating to a hold rating in a research note published on Thursday 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 analysts have also commented on the stock. ValuEngine raised shares of Liquidity Services from a strong sell rating to a sell rating in a research note on Friday, September 1st. Robert W. Baird reissued a neutral rating on shares of Liquidity Services in a research note on Monday, July 3rd.

Shares of Liquidity Services (NASDAQ:LQDT) traded up 2.63% on Thursday, hitting $5.85. 103,563 shares of the stock were exchanged. The firm’s 50-day moving average is $6.02 and its 200-day moving average is $6.84. The company’s market cap is $184.29 million. Liquidity Services has a one year low of $5.50 and a one year high of $11.49.

Liquidity Services (NASDAQ:LQDT) last posted its quarterly earnings data on Thursday, August 3rd. The business services provider reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.25) by $0.03. The business had revenue of $65.50 million during the quarter, compared to analysts’ expectations of $79.56 million. Liquidity Services had a negative net margin of 27.52% and a negative return on equity of 16.59%. The business’s revenue was down 23.1% on a year-over-year basis. During the same period last year, the firm posted $0.07 earnings per share. On average, equities analysts forecast that Liquidity Services will post ($0.91) EPS for the current fiscal year.

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A number of hedge funds have recently added to or reduced their stakes in LQDT. Renaissance Technologies LLC lifted its stake in Liquidity Services by 22.0% during the second quarter. Renaissance Technologies LLC now owns 1,981,239 shares of the business services provider’s stock valued at $12,581,000 after purchasing an additional 357,240 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Liquidity Services by 14.0% during the second quarter. Dimensional Fund Advisors LP now owns 902,983 shares of the business services provider’s stock valued at $5,734,000 after purchasing an additional 110,643 shares during the last quarter. Vanguard Group Inc. lifted its stake in Liquidity Services by 5.7% during the first quarter. Vanguard Group Inc. now owns 1,309,668 shares of the business services provider’s stock valued at $10,477,000 after purchasing an additional 71,139 shares during the last quarter. Bank of America Corp DE lifted its stake in Liquidity Services by 94.6% during 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 purchasing an additional 19,771 shares during the last quarter. Finally, Sei Investments Co. lifted its stake in Liquidity Services by 414.1% during the first quarter. Sei Investments Co. now owns 24,328 shares of the business services provider’s stock valued at $195,000 after purchasing an additional 19,596 shares during the last quarter. 67.63% of the stock is 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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