Heritage Global Inc. (NASDAQ:HGBL) Short Interest Down 16.4% in March

Heritage Global Inc. (NASDAQ:HGBL - Get Free Report) saw a large decline in short interest in the month of March. As of March 15th, there was short interest totalling 24,000 shares, a decline of 16.4% from the February 28th total of 28,700 shares. Based on an average trading volume of 73,000 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.1% of the shares of the company are sold short.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in HGBL. Mink Brook Asset Management LLC acquired a new position in shares of Heritage Global in the fourth quarter valued at about $3,454,000. Two Sigma Securities LLC acquired a new position in shares of Heritage Global during the 4th quarter worth approximately $28,000. Topline Capital Management LLC bought a new position in shares of Heritage Global during the fourth quarter worth approximately $3,565,000. NewEdge Advisors LLC acquired a new stake in shares of Heritage Global in the fourth quarter valued at approximately $28,000. Finally, Renaissance Technologies LLC boosted its stake in shares of Heritage Global by 2.8% in the fourth quarter. Renaissance Technologies LLC now owns 339,817 shares of the company's stock valued at $629,000 after buying an additional 9,222 shares during the period. Institutional investors own 33.46% of the company's stock.

Wall Street Analyst Weigh In

Separately, Lake Street Capital cut 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.

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Heritage Global Stock Performance

Shares of HGBL stock traded down $0.13 during midday trading on Friday, hitting $2.08. 48,489 shares of the company were exchanged, compared to its average volume of 72,732. Heritage Global has a 52 week low of $1.52 and a 52 week high of $2.74. The firm has a market capitalization of $73.83 million, a P/E ratio of 7.43 and a beta of 1.23. The firm's 50 day moving average price is $2.17 and its two-hundred day moving average price is $1.90.

Heritage Global (NASDAQ:HGBL - Get Free Report) last issued its quarterly earnings data on Thursday, March 13th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.05 by ($0.06). The firm had revenue of $10.77 million for the quarter, compared to the consensus estimate of $12.30 million. Heritage Global had a return on equity of 16.05% and a net margin of 20.60%.

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.