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

Heritage Global Inc. (NASDAQ:HGBL) was the target of a significant growth in short interest in the month of February. As of February 15th, there was short interest totalling 73,000 shares, a growth of 365.0% from the January 31st total of 15,700 shares. Based on an average daily volume of 66,600 shares, the short-interest ratio is currently 1.1 days. Approximately 0.2% of the company’s shares are sold short.

Heritage Global Stock Up 2.5 %

HGBL traded up $0.05 during midday trading on Friday, hitting $2.09. 129,117 shares of the company were exchanged, compared to its average volume of 60,626. The firm’s 50 day moving average price is $2.04 and its 200-day moving average price is $1.82. Heritage Global has a 1-year low of $1.52 and a 1-year high of $3.09. The firm has a market capitalization of $78.04 million, a P/E ratio of 7.46 and a beta of 1.17.

Hedge Funds Weigh In On Heritage Global

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

Heritage Global Company Profile

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.