Heritage Global Inc. (NASDAQ:HGBL - Get Free Report) was the recipient of a large growth in short interest during the month of May. As of May 15th, there was short interest totalling 17,100 shares, a growth of 30.5% from the April 30th total of 13,100 shares. Based on an average daily trading volume, of 60,000 shares, the days-to-cover ratio is currently 0.3 days. Currently, 0.1% of the shares of the company are sold short.
Institutional Investors Weigh In On Heritage Global
Hedge funds have recently added to or reduced their stakes in the company. Ancora Advisors LLC increased its holdings in Heritage Global by 1.2% during the first quarter. Ancora Advisors LLC now owns 514,269 shares of the company's stock worth $1,121,000 after buying an additional 6,000 shares during the last quarter. Ridgewood Investments LLC boosted its stake in shares of Heritage Global by 6.9% during the 1st quarter. Ridgewood Investments LLC now owns 241,165 shares of the company's stock valued at $526,000 after purchasing an additional 15,588 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in Heritage Global during the 1st quarter valued at about $56,000. Parkside Advisors LLC purchased a new stake in Heritage Global during the 1st quarter valued at about $74,000. Finally, Mink Brook Asset Management LLC bought a new stake in shares of Heritage Global in the 4th quarter worth $3,454,000. Institutional investors and hedge funds own 33.46% of the company's stock.
Wall Street Analysts Forecast Growth
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.
Read Our Latest Report on Heritage Global
Heritage Global Stock Performance
HGBL traded up $0.04 on Wednesday, hitting $2.15. 38,242 shares of the company were exchanged, compared to its average volume of 68,114. Heritage Global has a 12 month low of $1.52 and a 12 month high of $2.74. The company has a market cap of $76.22 million, a PE ratio of 7.68 and a beta of 1.22. The stock's fifty day moving average is $2.08 and its 200-day moving average is $2.02.
Heritage Global (NASDAQ:HGBL - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.04 by ($0.01). Heritage Global had a net margin of 20.60% and a return on equity of 16.05%. The firm had revenue of $13.46 million during the quarter, compared to the consensus estimate of $11.91 million.
About Heritage Global
(
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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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