Heritage Global Inc. (NASDAQ:HGBL) Short Interest Up 5.2% in July

Heritage Global Inc. (NASDAQ:HGBL) was the target of a significant growth in short interest in July. As of July 31st, there was short interest totalling 28,200 shares, a growth of 5.2% from the July 15th total of 26,800 shares. Based on an average trading volume of 69,000 shares, the days-to-cover ratio is currently 0.4 days. Currently, 0.1% of the shares of the stock are short sold.

Heritage Global Trading Up 0.5 %

NASDAQ HGBL traded up $0.01 during trading hours on Tuesday, hitting $1.85. 7,087 shares of the company’s stock were exchanged, compared to its average volume of 72,232. The business’s 50 day moving average is $2.35 and its 200-day moving average is $2.52. Heritage Global has a 12-month low of $1.69 and a 12-month high of $3.53. The firm has a market capitalization of $69.07 million, a P/E ratio of 6.17 and a beta of 1.20. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.73 and a current ratio of 2.07.

Heritage Global (NASDAQ:HGBL) last posted its earnings results on Thursday, August 8th. The company reported $0.07 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.07. Heritage Global had a return on equity of 20.56% and a net margin of 20.40%. The business had revenue of $12.02 million during the quarter.

Institutional Trading of Heritage Global

Several hedge funds have recently made changes to their positions in the stock. 1492 Capital Management LLC increased its position in shares of Heritage Global by 173.8% during the 4th 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 during the period. Ridgewood Investments LLC raised its holdings in shares of 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 purchasing an additional 7,500 shares in the last quarter. Herr Investment Group LLC boosted its stake in shares of Heritage Global by 10.7% during the 1st quarter. Herr Investment Group LLC now owns 432,900 shares of the company’s stock worth $1,143,000 after acquiring an additional 42,000 shares in the last quarter. Janus Henderson Group PLC acquired a new position in Heritage Global during the first quarter valued at approximately $54,000. Finally, Connective Capital Management LLC acquired a new position in Heritage Global during the 1st quarter worth $538,000. Institutional investors own 33.46% of the company’s stock.

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.