Heritage Global Inc. (NASDAQ:HGBL) Short Interest Up 35.6% in December

Heritage Global Inc. (NASDAQ:HGBL) saw a large increase in short interest during the month of December. As of December 15th, there was short interest totaling 16,374 shares, an increase of 35.6% from the November 30th total of 12,077 shares. Based on an average daily volume of 54,452 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.1% of the company’s stock are sold short. Approximately 0.1% of the company’s stock are sold short. Based on an average daily volume of 54,452 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Trading of Heritage Global

A number of hedge funds have recently modified their holdings of HGBL. Evergreen Capital Management LLC bought a new stake in shares of Heritage Global during the second quarter valued at approximately $26,000. Virtu Financial LLC acquired a new stake in Heritage Global during the third quarter worth $28,000. GSA Capital Partners LLP increased its holdings in Heritage Global by 103.0% in the 3rd quarter. GSA Capital Partners LLP now owns 21,928 shares of the company’s stock valued at $36,000 after buying an additional 11,126 shares during the period. Susquehanna International Group LLP bought a new stake in Heritage Global in the 3rd quarter valued at $71,000. Finally, Citadel Advisors LLC raised its stake in shares of Heritage Global by 17.0% in the 3rd quarter. Citadel Advisors LLC now owns 73,465 shares of the company’s stock valued at $122,000 after buying an additional 10,672 shares in the last quarter. Institutional investors own 33.46% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on HGBL shares. Singular Research upgraded shares of Heritage Global to a “strong-buy” rating in a report on Tuesday, September 2nd. Weiss Ratings reiterated a “sell (d+)” rating on shares of Heritage Global in a research note on Monday. Finally, Zacks Research raised Heritage Global to a “hold” rating in a report on Thursday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Heritage Global has an average rating of “Moderate Buy” and an average price target of $4.00.

Heritage Global Stock Performance

Heritage Global stock traded up $0.02 during mid-day trading on Tuesday, reaching $1.25. The company had a trading volume of 97,050 shares, compared to its average volume of 74,901. The company has a quick ratio of 1.89, a current ratio of 2.29 and a debt-to-equity ratio of 0.06. The firm has a market cap of $43.43 million, a price-to-earnings ratio of 13.89 and a beta of 0.62. The company has a 50 day moving average of $1.33 and a 200-day moving average of $1.74. Heritage Global has a 52 week low of $1.21 and a 52 week high of $2.39.

Heritage Global (NASDAQ:HGBL) last posted its quarterly earnings data on Thursday, November 6th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.03). Heritage Global had a return on equity of 4.69% and a net margin of 6.18%.The company had revenue of $11.36 million for the quarter, compared to the consensus estimate of $13.07 million.

About Heritage Global

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.