Short Interest in Heritage Global Inc. (NASDAQ:HGBL) Declines By 19.4%

Heritage Global Inc. (NASDAQ:HGBL) saw a significant decrease in short interest in June. As of June 15th, there was short interest totalling 20,400 shares, a decrease of 19.4% from the May 31st total of 25,300 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average daily volume of 79,400 shares, the days-to-cover ratio is presently 0.3 days.

Heritage Global Stock Performance

HGBL stock remained flat at $2.46 during trading on Tuesday. 53,469 shares of the company traded hands, compared to its average volume of 48,065. The firm has a fifty day moving average price of $2.36 and a 200 day moving average price of $2.63. The company has a market capitalization of $91.86 million, a price-to-earnings ratio of 8.20 and a beta of 1.20. The company has a quick ratio of 1.73, a current ratio of 2.07 and a debt-to-equity ratio of 0.08. Heritage Global has a 1-year low of $2.12 and a 1-year high of $4.08.

Heritage Global (NASDAQ:HGBL) last issued its quarterly earnings results on Thursday, May 9th. The company reported $0.05 earnings per share (EPS) for the quarter. The company had revenue of $12.16 million for the quarter. Heritage Global had a return on equity of 20.56% and a net margin of 20.40%.

Hedge Funds Weigh In On Heritage Global

A number of institutional investors have recently bought and sold shares of HGBL. Barclays PLC purchased a new position in Heritage Global during the 3rd quarter worth approximately $53,000. Ridgewood Investments LLC grew its holdings in shares of Heritage Global by 16.6% during the fourth quarter. Ridgewood Investments LLC now owns 190,047 shares of the company’s stock valued at $528,000 after buying an additional 27,047 shares in the last quarter. 1492 Capital Management LLC raised its position in Heritage Global by 173.8% during the fourth quarter. 1492 Capital Management LLC now owns 303,621 shares of the company’s stock valued at $844,000 after buying an additional 192,711 shares during the period. Herr Investment Group LLC lifted its stake in Heritage Global by 10.7% in the 1st quarter. Herr Investment Group LLC now owns 432,900 shares of the company’s stock worth $1,143,000 after acquiring an additional 42,000 shares in the last quarter. Finally, Janus Henderson Group PLC acquired a new stake in Heritage Global during the 1st quarter worth about $54,000. Hedge funds and other institutional investors own 33.46% of the company’s stock.

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.