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

Heritage Global Inc. (NASDAQ:HGBL) was the target of a large growth in short interest in the month of March. As of March 31st, there was short interest totalling 60,600 shares, a growth of 8.4% from the March 15th total of 55,900 shares. Approximately 0.2% of the shares of the company are short sold. Based on an average trading volume of 73,800 shares, the short-interest ratio is presently 0.8 days.

Heritage Global Stock Performance

NASDAQ:HGBL traded down $0.05 on Wednesday, reaching $2.55. 19,973 shares of the company’s stock were exchanged, compared to its average volume of 73,022. The stock has a fifty day simple moving average of $2.78 and a 200-day simple moving average of $2.87. Heritage Global has a 52 week low of $2.33 and a 52 week high of $4.08. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.78 and a quick ratio of 1.44. The firm has a market cap of $95.22 million, a price-to-earnings ratio of 7.70 and a beta of 1.29.

Heritage Global (NASDAQ:HGBL) last posted its earnings results on Thursday, March 14th. The company reported $0.13 earnings per share (EPS) for the quarter. The firm had revenue of $15.28 million for the quarter. Heritage Global had a return on equity of 23.50% and a net margin of 20.60%.

Institutional Investors Weigh In On Heritage Global

A number of institutional investors and hedge funds have recently modified their holdings of the company. Virtu Financial LLC purchased a new position in Heritage Global during the fourth quarter worth about $26,000. Qube Research & Technologies Ltd bought a new position in shares of Heritage Global in the third quarter worth approximately $26,000. State Street Corp increased its holdings in shares of Heritage Global by 101.4% in the 2nd quarter. State Street Corp now owns 23,870 shares of the company’s stock worth $36,000 after buying an additional 12,019 shares during the last quarter. Stifel Financial Corp purchased a new position in Heritage Global in the third quarter worth $38,000. Finally, Bank of New York Mellon Corp bought a new position in Heritage Global in the first quarter valued at $43,000. 33.46% of the stock is owned by hedge funds and other institutional investors.

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.