Heritage Global Inc. (NASDAQ:HGBL) Short Interest Down 17.3% in February
by Teresa Graham · The Cerbat GemHeritage Global Inc. (NASDAQ:HGBL – Get Free Report) was the target of a significant decrease in short interest during the month of February. As of February 13th, there was short interest totaling 322,390 shares, a decrease of 17.3% from the January 29th total of 389,735 shares. Based on an average daily volume of 76,957 shares, the days-to-cover ratio is currently 4.2 days. Approximately 1.1% of the company’s stock are short sold. Approximately 1.1% of the company’s stock are short sold. Based on an average daily volume of 76,957 shares, the days-to-cover ratio is currently 4.2 days.
Heritage Global Stock Performance
HGBL stock traded up $0.01 during trading hours on Wednesday, reaching $1.32. The stock had a trading volume of 26,883 shares, compared to its average volume of 407,257. The stock has a 50-day simple moving average of $1.33 and a 200 day simple moving average of $1.48. Heritage Global has a fifty-two week low of $1.21 and a fifty-two week high of $2.39. The stock has a market capitalization of $45.86 million, a PE ratio of 14.67 and a beta of 0.51. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.29 and a quick ratio of 1.89.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings reissued a “sell (d+)” rating on shares of Heritage Global in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $4.00.
Read Our Latest Analysis on Heritage Global
Hedge Funds Weigh In On Heritage Global
A number of institutional investors have recently bought and sold shares of HGBL. Truffle Hound Capital LLC lifted its position in shares of Heritage Global by 41.6% in the second quarter. Truffle Hound Capital LLC now owns 920,157 shares of the company’s stock valued at $2,043,000 after buying an additional 270,157 shares during the last quarter. Citadel Advisors LLC raised its stake in Heritage Global by 17.0% in the 3rd quarter. Citadel Advisors LLC now owns 73,465 shares of the company’s stock valued at $122,000 after acquiring an additional 10,672 shares during the period. Rothschild Wealth LLC bought a new stake in Heritage Global in the 4th quarter valued at $447,000. Mink Brook Asset Management LLC lifted its holdings in Heritage Global by 7.8% during the 4th quarter. Mink Brook Asset Management LLC now owns 2,028,844 shares of the company’s stock valued at $2,516,000 after purchasing an additional 146,622 shares during the last quarter. Finally, Punch & Associates Investment Management Inc. boosted its position in Heritage Global by 0.9% during the third quarter. Punch & Associates Investment Management Inc. now owns 2,475,228 shares of the company’s stock worth $4,109,000 after purchasing an additional 21,175 shares during the period. Institutional investors and hedge funds own 33.46% of the company’s stock.
About Heritage Global
Heritage Global Inc operates as a global advisory and disposition firm specializing in the valuation, sale and auction of surplus and idle assets. Through its subsidiaries, Heritage Global Partners and Heritage Global Digital, the company delivers comprehensive end-to-end solutions, including asset appraisals, advisory services and multi-channel auction platforms. Its service offerings encompass industrial machinery and equipment, real estate, storage lockers and specialty assets, all designed to maximize recovery values for clients.
The company leverages both online and live in-person events to facilitate timely and transparent sales across diverse asset classes.