Liquidity Services (NASDAQ:LQDT) Sees Unusually-High Trading Volume Following Analyst Upgrade

Liquidity Services, Inc. (NASDAQ:LQDT) shares saw an uptick in trading volume on Friday after Craig Hallum raised their price target on the stock from $28.00 to $37.00. Craig Hallum currently has a buy rating on the stock. 221,001 shares were traded during mid-day trading, an increase of 78% from the previous session’s volume of 124,195 shares.The stock last traded at $34.81 and had previously closed at $33.66.

Separately, Barrington Research reaffirmed an “outperform” rating and issued a $27.00 price target on shares of Liquidity Services in a research note on Tuesday.

Institutional Investors Weigh In On Liquidity Services

A number of institutional investors and hedge funds have recently made changes to their positions in LQDT. Access Investment Management LLC increased its holdings in Liquidity Services by 81.7% in the 2nd quarter. Access Investment Management LLC now owns 82,335 shares of the business services provider’s stock valued at $1,645,000 after purchasing an additional 37,010 shares during the last quarter. Panagora Asset Management Inc. boosted its position in shares of Liquidity Services by 14.6% during the second quarter. Panagora Asset Management Inc. now owns 122,404 shares of the business services provider’s stock worth $2,446,000 after buying an additional 15,592 shares during the period. Victory Capital Management Inc. grew its stake in shares of Liquidity Services by 6.9% in the second quarter. Victory Capital Management Inc. now owns 57,606 shares of the business services provider’s stock valued at $1,151,000 after buying an additional 3,700 shares in the last quarter. Acadian Asset Management LLC raised its holdings in shares of Liquidity Services by 15.7% in the 2nd quarter. Acadian Asset Management LLC now owns 503,600 shares of the business services provider’s stock valued at $10,060,000 after buying an additional 68,407 shares during the period. Finally, Ashton Thomas Private Wealth LLC acquired a new position in Liquidity Services during the 2nd quarter worth about $87,000. 71.15% of the stock is owned by hedge funds and other institutional investors.

Liquidity Services Trading Up 5.6 %

The company has a market capitalization of $1.09 billion, a PE ratio of 56.41 and a beta of 1.42. The business has a fifty day moving average of $24.18 and a 200 day moving average of $22.13.

About Liquidity Services

Liquidity Services, Inc provides e-commerce marketplaces, self-directed auction listing tools, and value-added services in the United States and internationally. The company operates through four segments: GovDeals, Retail Supply Chain Group (RSCG), Capital Assets Group (CAG), and Machinio. Its marketplaces include liquidation.com that enable corporations to sell surplus and salvage consumer goods and retail capital assets; GovDeals marketplace, which provides self-directed service solutions in which sellers list their own assets that enables local and state government entities, and commercial businesses located in the United States and Canada to sell surplus and salvage assets; and AllSurplus, a centralized marketplace that connects global buyer base with assets from across the network of marketplaces in a single destination.