Heritage Global Inc. (NASDAQ:HGBL - Get Free Report) shares rose 1% during trading on Wednesday . The stock traded as high as $2.05 and last traded at $2.00. Approximately 57,626 shares changed hands during mid-day trading, a decline of 19% from the average daily volume of 70,866 shares. The stock had previously closed at $1.98.
Analyst Ratings Changes
Separately, Lake Street Capital dropped their price target on Heritage Global from $5.00 to $4.00 and set a "buy" rating for the company in a report on Friday, March 14th.
Get Our Latest Stock Report on HGBL
Heritage Global Stock Up 4.0 %
The stock has a fifty day moving average of $2.11 and a 200-day moving average of $1.94. The firm has a market capitalization of $73.47 million, a P/E ratio of 7.39 and a beta of 1.23.
Heritage Global (NASDAQ:HGBL - Get Free Report) last announced its earnings results on Thursday, March 13th. The company reported ($0.01) earnings per share for the quarter, missing analysts' consensus estimates of $0.05 by ($0.06). Heritage Global had a return on equity of 16.05% and a net margin of 20.60%. The company had revenue of $10.77 million during the quarter, compared to the consensus estimate of $12.30 million.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of the company. NewEdge Advisors LLC bought a new position in Heritage Global in the fourth quarter valued at about $28,000. Jane Street Group LLC bought a new position in shares of Heritage Global in the 3rd quarter valued at about $25,000. Two Sigma Securities LLC acquired a new stake in shares of Heritage Global during the 4th quarter worth approximately $28,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Heritage Global during the first quarter worth approximately $56,000. Finally, Parkside Advisors LLC acquired a new position in Heritage Global in the first quarter valued at approximately $74,000. 33.46% of the stock is currently owned by institutional investors.
Heritage Global Company Profile
(
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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.
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