Heritage Global Inc. (NASDAQ:HGBL) Sees Significant Decrease in Short Interest

Heritage Global Inc. (NASDAQ:HGBL) was the recipient of a significant decrease in short interest in June. As of June 15th, there was short interest totalling 20,400 shares, a decrease of 19.4% from the May 31st total of 25,300 shares. Based on an average daily volume of 79,400 shares, the short-interest ratio is presently 0.3 days. Currently, 0.1% of the shares of the stock are short sold.

Heritage Global Price Performance

Shares of HGBL stock opened at $2.46 on Tuesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.07 and a quick ratio of 1.73. Heritage Global has a one year low of $2.12 and a one year high of $4.08. The company’s fifty day moving average price is $2.36 and its 200-day moving average price is $2.63. The company has a market capitalization of $91.86 million, a price-to-earnings ratio of 8.20 and a beta of 1.20.

Heritage Global (NASDAQ:HGBL) last posted its quarterly earnings results on Thursday, May 9th. The company reported $0.05 EPS for the quarter. Heritage Global had a return on equity of 20.56% and a net margin of 20.40%. The business had revenue of $12.16 million for the quarter.

Institutional Investors Weigh In On Heritage Global

A number of institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC bought a new stake in Heritage Global in the 3rd quarter valued at $53,000. Janus Henderson Group PLC bought a new position in Heritage Global during the first quarter valued at approximately $54,000. Ridgewood Investments LLC grew its holdings in Heritage Global by 3.9% during the 1st quarter. Ridgewood Investments LLC now owns 197,547 shares of the company’s stock valued at $522,000 after buying an additional 7,500 shares in the last quarter. Connective Capital Management LLC purchased a new stake in shares of Heritage Global during the 1st quarter worth approximately $538,000. Finally, 1492 Capital Management LLC grew its holdings in shares of Heritage Global by 173.8% in the fourth quarter. 1492 Capital Management LLC now owns 303,621 shares of the company’s stock valued at $844,000 after purchasing an additional 192,711 shares in the last quarter. 33.46% of the stock is owned by hedge funds and other institutional investors.

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.