Short Interest in Heritage Global Inc. (NASDAQ:HGBL) Drops By 60.7%

Heritage Global Inc. (NASDAQ:HGBL) was the target of a large drop in short interest in the month of February. As of February 28th, there was short interest totalling 28,700 shares, a drop of 60.7% from the February 13th total of 73,000 shares. Currently, 0.1% of the company’s shares are short sold. Based on an average daily trading volume, of 65,900 shares, the days-to-cover ratio is currently 0.4 days.

Hedge Funds Weigh In On Heritage Global

Institutional investors and hedge funds have recently modified their holdings of the company. Jane Street Group LLC purchased a new position in shares of Heritage Global in the 3rd quarter worth $25,000. NewEdge Advisors LLC purchased a new position in shares of Heritage Global in the 4th quarter worth $28,000. Two Sigma Securities LLC purchased a new position in shares of Heritage Global in the 4th quarter worth $28,000. Janus Henderson Group PLC lifted its position in Heritage Global by 53.2% during the third quarter. Janus Henderson Group PLC now owns 28,982 shares of the company’s stock valued at $49,000 after purchasing an additional 10,068 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in Heritage Global by 2.4% during the third quarter. Geode Capital Management LLC now owns 335,402 shares of the company’s stock valued at $570,000 after purchasing an additional 7,842 shares in the last quarter. 33.46% of the stock is currently owned by hedge funds and other institutional investors.

Heritage Global Trading Down 0.2 %

NASDAQ HGBL traded down $0.01 on Thursday, hitting $2.10. The company’s stock had a trading volume of 485 shares, compared to its average volume of 57,483. Heritage Global has a 52-week low of $1.52 and a 52-week high of $3.09. The company’s 50-day simple moving average is $2.09 and its 200 day simple moving average is $1.83. The firm has a market cap of $78.23 million, a P/E ratio of 7.48 and a beta of 1.22.

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.