Heritage Global Inc. (NASDAQ:HGBL) Sees Large Increase in Short Interest

Heritage Global Inc. (NASDAQ:HGBL - Get Free Report) was the target of a large increase in short interest during the month of February. As of February 15th, there was short interest totalling 73,000 shares, an increase of 365.0% from the January 31st total of 15,700 shares. Based on an average daily trading volume, of 66,600 shares, the short-interest ratio is presently 1.1 days. Approximately 0.2% of the shares of the company are short sold.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Jane Street Group LLC acquired a new position in shares of Heritage Global during the third quarter valued at $25,000. NewEdge Advisors LLC bought a new stake in Heritage Global in the 4th quarter valued at about $28,000. Two Sigma Securities LLC acquired a new position in Heritage Global during the 4th quarter valued at about $28,000. Janus Henderson Group PLC grew its position in Heritage Global by 53.2% in the 3rd quarter. Janus Henderson Group PLC now owns 28,982 shares of the company's stock worth $49,000 after purchasing an additional 10,068 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Heritage Global by 2.4% in the third quarter. Geode Capital Management LLC now owns 335,402 shares of the company's stock valued at $570,000 after purchasing an additional 7,842 shares during the period. Institutional investors and hedge funds own 33.46% of the company's stock.

Heritage Global Trading Up 1.1 %

HGBL traded up $0.02 on Monday, hitting $2.11. 38,290 shares of the company's stock were exchanged, compared to its average volume of 59,936. The stock has a fifty day moving average of $2.04 and a two-hundred day moving average of $1.82. Heritage Global has a twelve month low of $1.52 and a twelve month high of $3.09. The firm has a market cap of $78.94 million, a PE ratio of 7.55 and a beta of 1.17.

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About Heritage Global

Heritage Global Inc, together with its subsidiaries, operates as an asset services company with focus on financial and industrial asset transactions. The company operates in three segments: Auction and Liquidation, Refurbishment & Resale, and Brokerage. It provides a suite of market making, acquisitions, refurbishment, dispositions, valuations, and secured lending services.