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

Heritage Global Inc. (NASDAQ:HGBL) was the target of a significant increase in short interest in the month of February. As of February 15th, there was short interest totalling 73,000 shares, an increase of 365.0% from the January 31st total of 15,700 shares. Approximately 0.2% of the shares of the company are sold short. Based on an average daily volume of 66,600 shares, the short-interest ratio is presently 1.1 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Jane Street Group LLC acquired a new position in Heritage Global during the 3rd quarter worth approximately $25,000. NewEdge Advisors LLC acquired a new position in Heritage Global during the fourth quarter worth $28,000. Two Sigma Securities LLC acquired a new position in Heritage Global during the fourth quarter worth $28,000. Janus Henderson Group PLC raised its position in Heritage Global by 53.2% in the third quarter. Janus Henderson Group PLC now owns 28,982 shares of the company’s stock worth $49,000 after acquiring an additional 10,068 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Heritage Global by 2.4% in the third quarter. Geode Capital Management LLC now owns 335,402 shares of the company’s stock valued at $570,000 after acquiring an additional 7,842 shares during the period. 33.46% of the stock is currently owned by institutional investors and hedge funds.

Heritage Global Price Performance

Heritage Global stock opened at $2.04 on Friday. The business has a 50 day simple moving average of $2.04 and a 200-day simple moving average of $1.82. Heritage Global has a 12 month low of $1.52 and a 12 month high of $3.09. The stock has a market capitalization of $76.18 million, a PE ratio of 7.29 and a beta of 1.17.

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.