Heritage Global Inc. (NASDAQ:HGBL) Short Interest Down 70.4% in July

Heritage Global Inc. (NASDAQ:HGBL) was the recipient of a large decline in short interest during the month of July. As of July 15th, there was short interest totaling 17,834 shares, a decline of 70.4% from the June 30th total of 60,166 shares. Based on an average daily volume of 63,519 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.1% of the shares of the company are sold short.

Heritage Global Price Performance

Shares of NASDAQ:HGBL opened at $1.20 on Friday. The business has a 50 day moving average price of $1.24 and a 200 day moving average price of $1.30. Heritage Global has a twelve month low of $1.13 and a twelve month high of $2.20. The company has a market cap of $41.69 million, a price-to-earnings ratio of 12.00 and a beta of 0.43. The company has a quick ratio of 1.51, a current ratio of 1.95 and a debt-to-equity ratio of 0.06.

Heritage Global (NASDAQ:HGBL) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.01). Heritage Global had a return on equity of 4.86% and a net margin of 6.45%.The business had revenue of $12.73 million during the quarter, compared to the consensus estimate of $13.49 million.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded shares of Heritage Global from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday, June 24th. One 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 given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $4.50.

Insider Transactions at Heritage Global

In related news, insider Nicholas Kirk Dove bought 26,000 shares of the firm’s stock in a transaction on Thursday, May 21st. The stock was purchased at an average price of $1.22 per share, with a total value of $31,720.00. Following the completion of the transaction, the insider directly owned 126,000 shares of the company’s stock, valued at $153,720. This trade represents a 26.00% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 15.60% of the stock is owned by insiders.

Institutional Trading of Heritage Global

A number of hedge funds have recently bought and sold shares of the stock. Citadel Advisors LLC increased its holdings in shares of Heritage Global by 17.0% during the 3rd quarter. Citadel Advisors LLC now owns 73,465 shares of the company’s stock worth $122,000 after purchasing an additional 10,672 shares during the period. Goldman Sachs Group Inc. increased its stake in Heritage Global by 29.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 49,951 shares of the company’s stock valued at $62,000 after acquiring an additional 11,512 shares during the period. Evergreen Capital Management LLC acquired a new position in Heritage Global in the 2nd quarter valued at approximately $26,000. Virtu Financial LLC acquired a new position in Heritage Global in the 3rd quarter valued at approximately $28,000. Finally, Jane Street Group LLC raised its holdings in Heritage Global by 196.2% in the 4th quarter. Jane Street Group LLC now owns 29,651 shares of the company’s stock valued at $37,000 after acquiring an additional 19,642 shares in the last quarter. 33.46% of the stock is owned by institutional investors.

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.