Heritage Global Inc. (NASDAQ:HGBL) Short Interest Update

Heritage Global Inc. (NASDAQ:HGBL) was the recipient of a significant increase in short interest in the month of August. As of August 14th, there was short interest totaling 61,774 shares, an increase of 159.9% from the July 30th total of 23,770 shares. Currently, 0.2% of the shares of the company are sold short. Based on an average daily volume of 336,130 shares, the days-to-cover ratio is presently 0.2 days.

Hedge Funds Weigh In On Heritage Global

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HGBL. Punch & Associates Investment Management Inc. bought a new stake in Heritage Global during the second quarter worth about $2,446,000. Militia Capital Management LLC bought a new position in shares of Heritage Global in the first quarter valued at approximately $767,000. Rothschild Wealth LLC acquired a new position in shares of Heritage Global in the 4th quarter worth approximately $447,000. Evernest Financial Advisors LLC acquired a new position in shares of Heritage Global in the 1st quarter worth approximately $274,000. Finally, BlackRock Inc. bought a new stake in Heritage Global during the 2nd quarter worth approximately $204,000. 33.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on HGBL. Weiss Ratings lowered shares of Heritage Global from a “sell (d+)” rating to a “sell (d-)” rating in a report on Tuesday. Lake Street Capital lowered their target price on shares of Heritage Global from $4.50 to $3.00 and set a “buy” rating on the stock in a research note on Friday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Heritage Global has an average rating of “Moderate Buy” and an average price target of $3.00.

Heritage Global Stock Performance

Shares of NASDAQ:HGBL opened at $1.28 on Friday. The business’s fifty day moving average price is $1.18 and its two-hundred day moving average price is $1.26. Heritage Global has a fifty-two week low of $1.01 and a fifty-two week high of $1.96. The stock has a market capitalization of $44.34 million, a price-to-earnings ratio of -3.12 and a beta of 0.45. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.69 and a quick ratio of 1.29.

Heritage Global (NASDAQ:HGBL) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.50). Heritage Global had a negative net margin of 29.63% and a positive return on equity of 6.12%. The company had revenue of $12.27 million for the quarter, compared to the consensus estimate of $13.29 million.

Heritage Global Company Profile

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.