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

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

Heritage Global Price Performance

HGBL opened at $1.65 on Monday. The firm has a market cap of $61.61 million, a P/E ratio of 5.50 and a beta of 1.19. The firm has a 50-day moving average of $1.77 and a 200 day moving average of $2.20. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.76 and a current ratio of 1.99. Heritage Global has a fifty-two week low of $1.52 and a fifty-two week high of $3.53.

Heritage Global (NASDAQ:HGBL) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.07 earnings per share for the quarter, meeting the consensus estimate of $0.07. The company had revenue of $12.02 million during the quarter. Heritage Global had a net margin of 20.29% and a return on equity of 19.14%.

Hedge Funds Weigh In On Heritage Global

Institutional investors have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC bought a new position in Heritage Global during the first quarter worth about $54,000. Ridgewood Investments LLC boosted its position in Heritage Global by 3.9% during the first quarter. Ridgewood Investments LLC now owns 197,547 shares of the company’s stock worth $522,000 after purchasing an additional 7,500 shares during the period. Dimensional Fund Advisors LP boosted its position in Heritage Global by 11.8% during the second 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 during the period. Finally, Connective Capital Management LLC bought a new position in Heritage Global during the first quarter worth about $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.