Craig Hallum Forecasts Strong Price Appreciation for Liquidity Services (NASDAQ:LQDT) Stock

Liquidity Services (NASDAQ:LQDT) had its price objective increased by Craig Hallum from $28.00 to $37.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have a buy rating on the business services provider’s stock.

Separately, Barrington Research reissued an “outperform” rating and issued a $27.00 target price on shares of Liquidity Services in a research report on Tuesday, December 10th.

Liquidity Services Price Performance

LQDT stock opened at $35.54 on Friday. Liquidity Services has a 1 year low of $13.99 and a 1 year high of $35.80. The company has a market cap of $1.09 billion, a P/E ratio of 56.41 and a beta of 1.42. The stock’s fifty day moving average price is $24.18 and its 200-day moving average price is $22.17.

Hedge Funds Weigh In On Liquidity Services

Institutional investors and hedge funds have recently bought and sold shares of the stock. Royce & Associates LP purchased a new stake in Liquidity Services in the third quarter worth about $488,000. Allspring Global Investments Holdings LLC bought a new position in shares of Liquidity Services during the 3rd quarter valued at approximately $1,311,000. Intech Investment Management LLC purchased a new stake in Liquidity Services in the 3rd quarter worth approximately $518,000. Acadian Asset Management LLC increased its holdings in 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 worth $10,060,000 after acquiring an additional 68,407 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its stake in Liquidity Services by 31.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 24,912 shares of the business services provider’s stock worth $568,000 after acquiring an additional 5,929 shares during the period. 71.15% of the stock is currently owned by hedge funds and other institutional investors.

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.