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

Heritage Global Inc. (NASDAQ:HGBL - Get Free Report) saw a significant drop in short interest in February. As of February 28th, there was short interest totalling 28,700 shares, a drop of 60.7% from the February 13th total of 73,000 shares. Based on an average daily volume of 65,900 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.1% of the company's stock are sold short.

Institutional Investors Weigh In On Heritage Global

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HGBL. Geode Capital Management LLC increased its holdings in shares of Heritage Global by 2.4% during the third quarter. Geode Capital Management LLC now owns 335,402 shares of the company's stock valued at $570,000 after acquiring an additional 7,842 shares in the last quarter. Renaissance Technologies LLC grew its position in Heritage Global by 2.8% during the 4th quarter. Renaissance Technologies LLC now owns 339,817 shares of the company's stock worth $629,000 after purchasing an additional 9,222 shares during the last quarter. Janus Henderson Group PLC increased its stake in Heritage Global by 53.2% during the 3rd quarter. Janus Henderson Group PLC now owns 28,982 shares of the company's stock valued at $49,000 after purchasing an additional 10,068 shares in the last quarter. NewEdge Advisors LLC purchased a new position in shares of Heritage Global in the fourth quarter worth $28,000. Finally, Jane Street Group LLC acquired a new stake in shares of Heritage Global during the third quarter worth $25,000. 33.46% of the stock is currently owned by hedge funds and other institutional investors.

Heritage Global Stock Performance

NASDAQ:HGBL traded down $0.07 during midday trading on Monday, reaching $2.29. 158,429 shares of the stock traded hands, compared to its average volume of 75,874. The stock has a market capitalization of $85.51 million, a PE ratio of 8.18 and a beta of 1.22. Heritage Global has a 12-month low of $1.52 and a 12-month high of $2.90. The business has a 50-day moving average of $2.12 and a two-hundred day moving average of $1.84.

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

Analyst Ratings Changes

Separately, Lake Street Capital reduced their target price on shares of Heritage Global from $5.00 to $4.00 and set a "buy" rating for the company in a report on Friday.

Heritage Global Company Profile

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.