Short Interest in Heritage Global Inc. (NASDAQ:HGBL) Decreases By 84.7%

Key Points

• Short interest in Heritage Global Inc. decreased by 84.7%, falling from 43,000 shares to 6,600 shares as of September 30th.
• Brokerages have issued mixed ratings, with one analyst giving a Strong Buy and the average price target set at $4.00.
• The company reported $0.05 earnings per share for the last quarter, meeting analysts' expectations, with revenues of $14.30 million.

Heritage Global Inc. (NASDAQ:HGBL - Get Free Report) was the target of a significant decline in short interest in September. As of September 30th, there was short interest totaling 6,600 shares, a decline of 84.7% from the September 15th total of 43,000 shares. Based on an average trading volume of 65,600 shares, the short-interest ratio is currently 0.1 days. Approximately 0.0% of the company's stock are short sold. Approximately 0.0% of the company's stock are short sold. Based on an average trading volume of 65,600 shares, the short-interest ratio is currently 0.1 days.

Analyst Ratings Changes

Several brokerages have issued reports on HGBL. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Heritage Global in a report on Wednesday, October 8th. Zacks Research raised shares of Heritage Global to a "hold" rating in a report on Thursday, September 4th. Finally, Singular Research raised shares of Heritage Global to a "strong-buy" rating in a report on Tuesday, September 2nd. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Heritage Global presently has an average rating of "Moderate Buy" and a consensus price target of $4.00.

Heritage Global Price Performance

Shares of HGBL traded down $0.06 during mid-day trading on Friday, reaching $1.52. The stock had a trading volume of 50,211 shares, compared to its average volume of 62,979. The firm has a market cap of $52.80 million, a price-to-earnings ratio of 15.20 and a beta of 0.65. Heritage Global has a 12 month low of $1.51 and a 12 month high of $2.39. The business has a fifty day moving average of $1.80 and a 200 day moving average of $2.01. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.69 and a current ratio of 2.05.

Heritage Global (NASDAQ:HGBL - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $0.05 earnings per share for the quarter, hitting analysts' consensus estimates of $0.05. Heritage Global had a net margin of 7.33% and a return on equity of 5.47%. The firm had revenue of $14.30 million during the quarter, compared to analyst estimates of $12.38 million.

Hedge Funds Weigh In On Heritage Global

Hedge funds and other institutional investors have recently modified their holdings of the stock. Evergreen Capital Management LLC bought a new position in shares of Heritage Global during the second quarter worth $26,000. Wealth Enhancement Advisory Services LLC bought a new position in shares of Heritage Global during the first quarter worth $56,000. Ridgewood Investments LLC boosted its position in shares of Heritage Global by 6.9% during the first quarter. Ridgewood Investments LLC now owns 241,165 shares of the company's stock worth $526,000 after acquiring an additional 15,588 shares during the last quarter. Ancora Advisors LLC lifted its position in Heritage Global by 1.2% during the first quarter. Ancora Advisors LLC now owns 514,269 shares of the company's stock valued at $1,121,000 after purchasing an additional 6,000 shares during the last quarter. Finally, Militia Capital Partners LP lifted its position in Heritage Global by 6.6% during the first quarter. Militia Capital Partners LP now owns 584,478 shares of the company's stock valued at $1,274,000 after purchasing an additional 36,000 shares during the last quarter. Institutional investors own 33.46% of the company's stock.

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.

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