The stock of Heritage Global Inc (NASDAQ: HGBL) has decreased by -8.06 when compared to last closing price of 2.48.Despite this, the company has seen a loss of -6.56% in its stock price over the last five trading days. Newsfile Corp reported 2024-03-26 that San Diego, California–(Newsfile Corp. – March 26, 2024) – Heritage Global, Inc. (NASDAQ: HGBL) (“Heritage Global,” “HG” or “the Company”), an asset services company specializing in financial and industrial asset transactions, today announced that it will participate in The LD Micro Invitational XIV, presenting and holding one-on-one meetings on Tuesday, April 9, 2024. The conference will be held at the Sofitel New York from April 8-9, 2024.
Is It Worth Investing in Heritage Global Inc (NASDAQ: HGBL) Right Now?
Heritage Global Inc (NASDAQ: HGBL) has a price-to-earnings ratio of 6.86x that is above its average ratio. Additionally, the 36-month beta value for HGBL is 1.19. There are mixed opinions on the stock, with 0 analysts rating it as a “buy,” 0 rating it as “overweight,” 0 rating it as “hold,” and 0 rating it as “sell.”
The public float for HGBL is 30.95M and currently, short sellers hold a 0.10% ratio of that float. The average trading volume of HGBL on May 10, 2024 was 77.54K shares.
HGBL’s Market Performance
HGBL stock saw a decrease of -6.56% in the past week, with a monthly decline of -12.98% and a quarterly a decrease of -18.86%. The volatility ratio for the week is 4.31%, and the volatility levels for the last 30 days are 4.02% for Heritage Global Inc (HGBL). The simple moving average for the past 20 days is -8.89% for HGBL’s stock, with a -22.21% simple moving average for the past 200 days.
HGBL Trading at -14.31% from the 50-Day Moving Average
After a stumble in the market that brought HGBL to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -44.12% of loss for the given period.
Volatility was left at 4.02%, however, over the last 30 days, the volatility rate increased by 4.31%, as shares sank -13.17% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -18.17% lower at present.
During the last 5 trading sessions, HGBL fell by -6.76%, which changed the moving average for the period of 200-days by -40.91% in comparison to the 20-day moving average, which settled at $2.49. In addition, Heritage Global Inc saw -17.99% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at HGBL starting from DOVE ROSS, who purchase 7,297 shares at the price of $2.75 back on Mar 20 ’24. After this action, DOVE ROSS now owns 2,302,656 shares of Heritage Global Inc, valued at $20,067 using the latest closing price.
Dove Nicholas Kirk, the President, Industrial Assets of Heritage Global Inc, purchase 5,000 shares at $2.88 during a trade that took place back on Mar 19 ’24, which means that Dove Nicholas Kirk is holding 100,000 shares at $14,400 based on the most recent closing price.
Stock Fundamentals for HGBL
Current profitability levels for the company are sitting at:
- 0.23 for the present operating margin
- 0.68 for the gross margin
The net margin for Heritage Global Inc stands at 0.21. The total capital return value is set at 0.2. Equity return is now at value 22.81, with 16.31 for asset returns.
Based on Heritage Global Inc (HGBL), the company’s capital structure generated 0.12 points at debt to capital in total, while cash flow to debt ratio is standing at 1.67. The debt to equity ratio resting at 0.13. The interest coverage ratio of the stock is 65.73.
Currently, EBITDA for the company is 13.87 million with net debt to EBITDA at -0.17. When we switch over and look at the enterprise to sales, we see a ratio of 1.37. The receivables turnover for the company is 6.59for trailing twelve months and the total asset turnover is 0.71. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.78.
Conclusion
In conclusion, Heritage Global Inc (HGBL) has seen bad performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others rating it as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
