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

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

Heritage Global Stock Performance

Shares of NASDAQ HGBL traded down $0.01 during mid-day trading on Thursday, hitting $2.10. The stock had a trading volume of 485 shares, compared to its average volume of 57,483. The company has a 50 day moving average of $2.09 and a two-hundred day moving average of $1.83. Heritage Global has a twelve month low of $1.52 and a twelve month high of $3.09. The firm has a market cap of $78.23 million, a PE ratio of 7.48 and a beta of 1.22.

Institutional Investors Weigh In On Heritage Global

Hedge funds have recently added to or reduced their stakes in the business. Jane Street Group LLC purchased a new stake in Heritage Global in the third quarter valued at $25,000. NewEdge Advisors LLC purchased a new stake in Heritage Global in the fourth quarter valued at $28,000. Two Sigma Securities LLC purchased a new stake in Heritage Global in the fourth quarter valued at $28,000. Janus Henderson Group PLC boosted its stake in shares of Heritage Global by 53.2% during the 3rd quarter. Janus Henderson Group PLC now owns 28,982 shares of the company’s stock worth $49,000 after acquiring an additional 10,068 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Heritage Global by 2.4% during the 3rd quarter. Geode Capital Management LLC now owns 335,402 shares of the company’s stock worth $570,000 after acquiring an additional 7,842 shares in the last quarter. 33.46% of the stock is owned by hedge funds and other institutional investors.

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.