Heritage Global Inc. [HGBL] Insider Activity: An Update for Investors


Heritage Global Inc.’s recent filing unveils that its CEO DOVE ROSS acquired Company’s shares for reported $9952.0 on Aug 24. In the deal valued at $3.11 per share,3,200 shares were bought. As a result of this transaction, DOVE ROSS now holds 2,218,510 shares worth roughly $ 7.32 million.

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Then, Dove Nicholas Kirk bought 3,455 shares, generating $10,814 in total proceeds. Upon buying the shares at $3.13, the President, Industrial Assets now owns 90,000 shares.

Before that, Ludwig David Van bought 1,825 shares. Heritage Global Inc. shares valued at $6,022 were divested by the President of subsidiary at a price of $3.30 per share. As a result of the transaction, Ludwig David Van now holds 1,039,304 shares, worth roughly $3.43 million.

Craig Hallum initiated its Heritage Global Inc. [HGBL] rating to a Buy in a research note published on Friday.

Price Performance Review of HGBL

On Friday, Heritage Global Inc. [NASDAQ:HGBL] saw its stock fall -0.90% to $3.30. On the same session, the stock had its day’s lowest price of $3.19, but rose to a high of $3.38. Over the last five days, the stock has gained 5.10%. Heritage Global Inc. shares have risen nearly 40.43% since the year began. Nevertheless, the stocks have risen 100.00% over the past one year. While a 52-week high of $4.08 was reached on 07/17/23, a 52-week low of $1.51 was recorded on 03/07/23. SMA at 50 days reached $3.56, while 200 days put it at $3.00. A total of 0.14 million shares were traded, compared to the trading of 0.16 million shares in the previous session.

Levels Of Support And Resistance For HGBL Stock

The 24-hour chart illustrates a support level at 3.20, which if violated will result in even more drops to 3.10. On the upside, there is a resistance level at 3.39. A further resistance level may holdings at 3.48. The Relative Strength Index (RSI) on the 14-day chart is 47.80, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.12, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 33.58%. Stochastics %K at 56.05% indicates the stock is a holding.

How much short interest is there in Heritage Global Inc.?

A steep rise in short interest was recorded in Heritage Global Inc. stocks on Aug 14, 2023, dropping by 3720.0 shares to a total of 24670.0 shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 28390.0 shares. There was a decline of -15.08%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 0.08% of the overall stock float, the days-to-cover ratio (short ratio) fell to 0.13.

Heritage Global Inc. [HGBL] – Who Are The Largest Shareholders?

In filings from Topline Capital Management LLC, it is revealed that the company now owns 3,617,885 shares, or roughly 9.75% of the outstanding HGBL shares. Additionally, Punch & Associates Investment Man increased 0.34% of its stake after which the total value it holdings stand at $9,292,457, while The Vanguard Group, Inc. reduced -4.27% of its stake to hold $6.45 million in the firm. Over the last quarter, Koshinski Asset Management, Inc. sold -314,886 shares of Heritage Global Inc., while EAM Investors LLC sold 467,991 shares. At present, Renaissance Technologies LLC is holding 431,617 shares valued at $1.64 million. Perritt Capital Management, Inc. owned 355,091 shares of the company at the time of its most recent 13F filing, worth $1.35 million.

According to FactSet, Heritage Global Inc.’s share price will average $5.67 in the next year, based on opinions of analysts polled by the firm. This is up nearly 80.18 percent from its previous closing price of $3.33. Analysts expect Heritage Global Inc. stock to reach the higher price of $6.00, while the lowest price estimate is $5.00. However, 3 analysts have rated HGBL stock as a Buy in their predictions for 2023.


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