Heritage Global Inc. (NASDAQ:HGBL) Short Interest Update

Heritage Global Inc. (NASDAQ:HGBL) was the recipient of a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 49,900 shares, a growth of 11.9% from the October 15th total of 44,600 shares. Based on an average daily volume of 157,900 shares, the short-interest ratio is currently 0.3 days. Approximately 0.2% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

Separately, Lake Street Capital boosted their target price on Heritage Global from $5.00 to $6.00 and gave the stock a “buy” rating in a research report on Friday, August 11th.

Heritage Global Trading Up 1.1 %

NASDAQ HGBL traded up $0.03 during trading hours on Friday, hitting $2.88. 189,211 shares of the company were exchanged, compared to its average volume of 162,871. Heritage Global has a 52 week low of $2.19 and a 52 week high of $4.08. The company has a quick ratio of 1.47, a current ratio of 1.69 and a debt-to-equity ratio of 0.11. The stock has a 50-day moving average price of $3.11 and a 200 day moving average price of $3.36. The stock has a market cap of $106.99 million, a PE ratio of 6.06 and a beta of 1.40.

Insider Transactions at Heritage Global

In other Heritage Global news, Director Samuel L. Shimer bought 10,000 shares of Heritage Global stock in a transaction on Wednesday, September 13th. The stock was acquired at an average cost of $2.95 per share, with a total value of $29,500.00. Following the completion of the acquisition, the director now owns 297,500 shares in the company, valued at $877,625. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have acquired 18,200 shares of company stock worth $53,702 in the last quarter. Company insiders own 12.00% of the company’s stock.

Hedge Funds Weigh In On Heritage Global

Large investors have recently modified their holdings of the stock. Virtu Financial LLC purchased a new position in shares of Heritage Global during the 4th quarter worth about $26,000. Qube Research & Technologies Ltd bought a new stake in Heritage Global in the third quarter worth about $26,000. State Street Corp boosted its position in shares of Heritage Global by 101.4% during the second quarter. State Street Corp now owns 23,870 shares of the company’s stock valued at $36,000 after buying an additional 12,019 shares during the period. Stifel Financial Corp purchased a new stake in shares of Heritage Global in the third quarter worth approximately $38,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Heritage Global during the 1st quarter worth approximately $43,000. Institutional investors own 27.06% 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 provides market making, acquisitions, refurbishment, dispositions, valuations, and secured lending services. It focuses on identifying, valuing, acquiring, and monetizing underlying tangible and intangible assets.