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

Heritage Global Inc. (NASDAQ:HGBL) was the target of a large growth in short interest during the month of September. As of September 30th, there was short interest totalling 19,500 shares, a growth of 91.2% from the September 15th total of 10,200 shares. Based on an average daily trading volume, of 89,900 shares, the short-interest ratio is currently 0.2 days. Currently, 0.1% of the shares of the company are sold short.

Institutional Trading of Heritage Global

A number of hedge funds have recently added to or reduced their stakes in HGBL. Janus Henderson Group PLC acquired a new position in shares of Heritage Global in the first quarter worth about $54,000. Ridgewood Investments LLC increased its stake in shares of Heritage Global by 3.9% in 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. Dimensional Fund Advisors LP raised its holdings in Heritage Global by 11.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 449,864 shares of the company’s stock worth $1,107,000 after purchasing an additional 47,375 shares during the period. Ancora Advisors LLC boosted its position in Heritage Global by 34.6% during the first quarter. Ancora Advisors LLC now owns 472,388 shares of the company’s stock worth $1,247,000 after purchasing an additional 121,483 shares in the last quarter. Finally, Connective Capital Management LLC acquired a new stake in Heritage Global in the first quarter valued at approximately $538,000. 33.46% of the stock is owned by hedge funds and other institutional investors.

Heritage Global Stock Performance

Shares of HGBL stock opened at $1.65 on Monday. Heritage Global has a 52-week low of $1.52 and a 52-week high of $3.53. The company has a quick ratio of 1.76, a current ratio of 1.99 and a debt-to-equity ratio of 0.07. The stock has a market cap of $61.61 million, a PE ratio of 5.50 and a beta of 1.19. The business has a 50-day simple moving average of $1.77 and a 200-day simple moving average of $2.20.

Heritage Global (NASDAQ:HGBL) last announced its quarterly 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. The company had revenue of $12.02 million during the quarter. Heritage Global had a return on equity of 19.14% and a net margin of 20.29%.

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.