Liquidity Services (NASDAQ:LQDT) Sees Strong Trading Volume After Analyst Upgrade

Liquidity Services, Inc. (NASDAQ:LQDT) saw unusually-strong trading volume on Friday after Craig Hallum raised their price target on the stock from $28.00 to $37.00. Craig Hallum currently has a buy rating on the stock. Approximately 221,001 shares were traded during mid-day trading, an increase of 78% from the previous session’s volume of 124,195 shares.The stock last traded at $34.81 and had previously closed at $33.66.

Separately, Barrington Research restated an “outperform” rating and issued a $27.00 target price on shares of Liquidity Services in a research report on Tuesday.

Hedge Funds Weigh In On Liquidity Services

Institutional investors and hedge funds have recently bought and sold shares of the business. Pacer Advisors Inc. lifted its stake in Liquidity Services by 9.5% in the 3rd quarter. Pacer Advisors Inc. now owns 881,234 shares of the business services provider’s stock worth $20,092,000 after purchasing an additional 76,794 shares in the last quarter. State Street Corp lifted its position in Liquidity Services by 1.7% during the third quarter. State Street Corp now owns 852,306 shares of the business services provider’s stock worth $19,433,000 after buying an additional 13,947 shares in the last quarter. Geode Capital Management LLC boosted its stake in Liquidity Services by 0.5% during the third quarter. Geode Capital Management LLC now owns 515,584 shares of the business services provider’s stock worth $11,757,000 after buying an additional 2,392 shares during the last quarter. Acadian Asset Management LLC grew its holdings in Liquidity Services by 15.7% in the 2nd quarter. Acadian Asset Management LLC now owns 503,600 shares of the business services provider’s stock valued at $10,060,000 after buying an additional 68,407 shares in the last quarter. Finally, Rice Hall James & Associates LLC increased its stake in shares of Liquidity Services by 1.3% in the 3rd quarter. Rice Hall James & Associates LLC now owns 367,302 shares of the business services provider’s stock worth $8,374,000 after acquiring an additional 4,838 shares during the last quarter. 71.15% of the stock is currently owned by institutional investors and hedge funds.

Liquidity Services Trading Up 5.6 %

The firm has a fifty day moving average price of $24.18 and a 200 day moving average price of $22.13. The firm has a market cap of $1.09 billion, a PE ratio of 56.41 and a beta of 1.42.

Liquidity Services Company Profile

Liquidity Services, Inc provides e-commerce marketplaces, self-directed auction listing tools, and value-added services in the United States and internationally. The company operates through four segments: GovDeals, Retail Supply Chain Group (RSCG), Capital Assets Group (CAG), and Machinio. Its marketplaces include liquidation.com that enable corporations to sell surplus and salvage consumer goods and retail capital assets; GovDeals marketplace, which provides self-directed service solutions in which sellers list their own assets that enables local and state government entities, and commercial businesses located in the United States and Canada to sell surplus and salvage assets; and AllSurplus, a centralized marketplace that connects global buyer base with assets from across the network of marketplaces in a single destination.