Short Interest in Heritage Global Inc. (NASDAQ:HGBL) Grows By 365.0%

Heritage Global Inc. (NASDAQ:HGBL) was the recipient 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 trading volume of 66,600 shares, the short-interest ratio is presently 1.1 days. Currently, 0.2% of the company’s stock are sold short.

Institutional Trading of Heritage Global

Hedge funds and other institutional investors have recently bought and sold shares of the business. Janus Henderson Group PLC lifted its stake in shares of Heritage Global by 53.2% in the third quarter. Janus Henderson Group PLC now owns 28,982 shares of the company’s stock valued at $49,000 after buying an additional 10,068 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of Heritage Global in the third quarter worth approximately $25,000. Geode Capital Management LLC raised its stake in shares of Heritage Global by 2.4% in the third quarter. Geode Capital Management LLC now owns 335,402 shares of the company’s stock worth $570,000 after purchasing an additional 7,842 shares during the last quarter. Truffle Hound Capital LLC bought a new position in shares of Heritage Global in the fourth quarter valued at approximately $1,202,000. Finally, Renaissance Technologies LLC boosted its position in shares of Heritage Global by 2.8% during the fourth quarter. Renaissance Technologies LLC now owns 339,817 shares of the company’s stock valued at $629,000 after buying an additional 9,222 shares during the last quarter. Institutional investors own 33.46% of the company’s stock.

Heritage Global Stock Performance

Shares of NASDAQ HGBL traded up $0.05 during midday trading on Friday, hitting $2.09. 129,117 shares of the stock traded hands, compared to its average volume of 60,626. Heritage Global has a one year low of $1.52 and a one year high of $3.09. The business has a 50 day moving average price of $2.04 and a two-hundred day moving average price of $1.82. The company has a market cap of $78.04 million, a PE ratio of 7.46 and a beta of 1.17.

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.