HGBL
Heritage Global Inc.
NasdaqCMUSDEQUITY
Financial Services
DELAYED
Neutral
0/100
Last price
1.29
▼ 0.01 (0.77%)
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Tool
1D
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Range —
Vol —
vs
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Open
—
Prev close
1.30
Day high
1.31
Day low
1.29
Volume
31.52K
Market cap
$44.68M
P/E (TTM)
—
52W range
1.01 – 1.65
Trailing performance
Returnvs SPY
1W
-0.77%
-2.7%
1M
-5.15%
-6.3%
3M
+5.74%
+1.2%
6M
-7.19%
-25.4%
YTD
+4.03%
-10.2%
1Y
-19.38%
-35.8%
3Y
-58.65%
-140.9%
5Y
—
—
Price return only. Dividends are not reinvested, so total return on a dividend payer will be higher than shown.
Unusual options activity
Nothing crossed the thresholds in the expiries we scanned.
That is the normal state — most contracts trade well inside their existing open interest.
That is the normal state — most contracts trade well inside their existing open interest.
Contracts trading at or above their open interest, ranked by notional and where the print landed.
Free account
5 more panels on HGBL open with an account.
Options chains and analytics, valuation ratios, insider filings, analyst targets and ownership. No card, no trial, nothing to cancel.
Insider net activity
Net shares
+109.77K
Net buying
Buy transactions
5
416.00K shares
Sell transactions
3
306.23K shares
Net transactions
+8
Buys less sells
Sell : buy shares
0.7 : 1
Mixed
Insider-held shares
4.01M
Total on file
Insider transactions
| Date | Insider | Action | Shares | Value | Held |
|---|---|---|---|---|---|
| Sep 25, 26 | DOVE ROSS M Chief Executive Officer |
SELL | 300.00K | $399.00K | Direct |
| Sep 25, 26 | BURNHAM WILLIAM L Director |
BUY | 300.00K | $399.00K | Indirect |
| Sep 1, 26 | SKLAR JAMES EDWARD General Counsel |
SELL | 2.50K | $3.17K | Direct |
| Aug 20, 26 | COBB BRIAN J. Officer |
BUY | 20.00K | $22.00K | Direct |
| Aug 17, 26 | HOUNSELL BRUCE K Officer |
BUY | 10.00K | $11.39K | Direct |
| Aug 17, 26 | DOVE NICHOLAS KIRK Officer |
BUY | 60.00K | $65.94K | Direct |
| May 21, 26 | DOVE NICHOLAS KIRK Officer |
BUY | 26.00K | $31.59K | Direct |
| May 1, 26 | SKLAR JAMES EDWARD General Counsel |
SELL | 3.73K | $4.97K | Direct |
| Apr 1, 26 | SKLAR JAMES EDWARD General Counsel |
SELL | 3.73K | $5.04K | Direct |
| Mar 5, 26 | SHIMER SAMUEL LOUIS Director |
STOCK | 20.00K | $0 | Direct |
| Mar 5, 26 | HEXNER MICHAEL Director |
STOCK | 20.00K | $0 | Direct |
| Mar 5, 26 | SHARPE KELLY S Director |
STOCK | 20.00K | $0 | Direct |
| Mar 5, 26 | SINSLEY BARBARA A Director |
STOCK | 20.00K | $0 | Direct |
| Mar 5, 26 | BURNHAM WILLIAM L Director |
STOCK | 20.00K | $0 | Direct |
What this is, and what it is not
These are SEC Form 4 filings — officers, directors and 10% owners reporting their own trades in the company's stock. Filing is due within two business days of the transaction, so this lags reality by days, and the provider adds its own lag on top.
A sale is not automatically bearish. Executives sell on scheduled 10b5-1 plans, to cover tax on vesting equity, and to diversify. Purchases with cash are generally the more informative signal, and they are far rarer.
This does not include congressional or senate trading. That comes from STOCK Act disclosures filed with the Senate eFD system and the House Clerk, which this data source does not carry.
Officer and director trades in their own stock, straight from Form 4 filings.
Insider holders
| Name | Relation | Shares held | Latest |
|---|---|---|---|
BURNHAM WILLIAM L |
Director | — | Purchase |
COBB BRIAN J. |
Officer | 245.35K | Purchase |
DOVE NICHOLAS KIRK |
Officer | 186.00K | Purchase |
DOVE ROSS M |
Chief Executive Officer | 2.02M | Sale |
HEXNER MICHAEL |
Director | 272.10K | Stock Award(Grant) |
LUDWIG DAVID VAN |
Officer and Director | 900.48K | Sale |
SHARPE KELLY S |
Director | 95.80K | Stock Award(Grant) |
SHIMER SAMUEL LOUIS |
Director | 352.50K | Stock Award(Grant) |
SINSLEY BARBARA A |
Director | 101.30K | Stock Award(Grant) |
SKLAR JAMES EDWARD |
General Counsel | 254.89K | Sale |
Fundamentals
Market cap$44.68M
Enterprise value$36.85M
Revenue (TTM)$48.20M
Gross profit$31.25M
EBITDA$494.00K
Net income$-14.29M
EPS (TTM)$-0.41
Free cash flow$946.38K
Total cash$13.18M
Total debt$5.35M
Book value / share$1.50
Shares outstanding34.64M
Float25.85M
Short % of float0.24%
Dividend yield0.00%
Beta (5Y)0.45
Valuation & profitability ratios
Trailing P/E—
Forward P/E8.32
PEG ratio3.60
Price / sales—
Price / book0.86
EV / revenue0.77
EV / EBITDA74.60
Gross margin64.83%
Operating margin-22.32%
Profit margin-29.63%
Return on equity-24.29%
Return on assets-0.12%
Debt / equity10.30
Current ratio1.69
Fourteen ratios including P/E, PEG, EV/EBITDA, margins and return on equity.
Financial statements
| Line item | 2025 | 2024 | 2023 | 2022 | YoY |
|---|---|---|---|---|---|
| Total revenue | $50.98M | $45.36M | $60.55M | $46.91M | +12.4% |
| Operating revenue | $50.98M | $45.36M | $60.55M | $46.91M | +12.4% |
| Cost of revenue | $37.17M | $31.15M | $39.15M | $36.52M | +19.3% |
| Gross profit | $13.80M | $14.21M | $21.39M | $10.39M | -2.9% |
| Selling, general & admin | $7.76M | $7.51M | $7.09M | $5.71M | +3.4% |
| Total operating expense | $8.22M | $7.83M | $8.13M | $6.25M | +4.9% |
| Operating income | $5.59M | $6.38M | $13.26M | $4.14M | -12.4% |
| Net interest income | $134.00K | -$93.00K | -$324.00K | -$113.00K | +244.1% |
| Pre-tax income | $5.84M | $8.97M | $13.99M | $11.01M | -34.9% |
| Tax provision | $2.26M | $3.79M | $1.52M | -$4.49M | -40.4% |
| Net income | $3.59M | $5.18M | $12.47M | $15.49M | -30.8% |
| Net income to common | $3.59M | $5.18M | $12.47M | $15.49M | -30.8% |
| Basic EPS | 0.10 | 0.14 | 0.34 | 0.43 | -28.6% |
| Diluted EPS | 0.10 | 0.14 | 0.33 | 0.42 | -28.6% |
| EBIT | $5.59M | $9.07M | $14.32M | $11.12M | -38.4% |
| EBITDA | $6.75M | $10.31M | $15.47M | $11.66M | -34.5% |
| Basic shares | 34.83M | 36.43M | 36.68M | 36.02M | -4.4% |
| Diluted shares | 35.43M | 37.13M | 37.59M | 37.10M | -4.6% |
| Line item | 2025 | 2024 | 2023 | 2022 | 2021 | YoY |
|---|---|---|---|---|---|---|
| Cash & equivalents | $20.52M | $21.75M | $12.28M | $12.67M | — | -5.6% |
| Cash & short-term investments | $20.52M | $21.75M | $12.28M | $12.67M | — | -5.6% |
| Accounts receivable | $1.86M | $1.56M | $1.91M | $988.00K | — | +19.1% |
| Inventory | $5.93M | $5.35M | $5.07M | $4.62M | — | +10.9% |
| Total current assets | $33.59M | $33.13M | $26.29M | $23.89M | — | +1.4% |
| Property, plant & equipment | $12.40M | $3.85M | $4.24M | $4.35M | — | +222.0% |
| Goodwill & intangibles | $10.55M | $10.81M | $11.20M | $11.59M | — | -2.4% |
| Total assets | $88.44M | $81.31M | $83.17M | $67.56M | — | +8.8% |
| Total current liabilities | $15.54M | $14.60M | $14.73M | $16.23M | — | +6.4% |
| Current debt | — | $395.00K | $1.73M | $3.41M | $2.48M | — |
| Long-term debt | $4.10M | — | $5.50M | $871.00K | $1.35M | — |
| Total debt | $5.72M | $2.71M | $9.88M | $7.15M | — | +110.9% |
| Total liabilities | $21.46M | $16.11M | $22.09M | $19.26M | — | +33.2% |
| Retained earnings | -$224.26M | -$227.84M | -$233.03M | -$245.27M | — | +1.6% |
| Shareholder equity | $66.98M | $65.20M | $61.08M | $48.30M | — | +2.7% |
| Working capital | $18.06M | $18.53M | $11.56M | $7.67M | — | -2.6% |
| Net tangible assets | $56.44M | $54.39M | $49.88M | $36.71M | — | +3.8% |
| Shares issued | 37.64M | 37.38M | 37.16M | 37.18M | — | +0.7% |
| Line item | 2025 | 2024 | 2023 | 2022 | YoY |
|---|---|---|---|---|---|
| Net income | $3.59M | $5.18M | $12.47M | $15.49M | -30.8% |
| Depreciation & amortisation | $1.16M | $1.25M | $1.16M | $536.00K | -6.8% |
| Stock-based compensation | $900.00K | $1.25M | $776.00K | $540.00K | -28.2% |
| Change in working capital | -$967.00K | $0 | -$1.00M | $1.03M | — |
| Operating cash flow | $6.14M | $7.75M | $13.02M | $6.48M | -20.8% |
| Capital expenditure | -$8.47M | -$137.00K | -$257.00K | -$215.00K | -6,082.5% |
| Investing cash flow | -$9.39M | $10.87M | -$15.87M | -$7.52M | -186.4% |
| Share buybacks | -$2.63M | -$2.20M | -$400.00K | -$395.00K | -19.5% |
| Financing cash flow | $2.03M | -$9.15M | $2.46M | $78.00K | +122.2% |
| Free cash flow | -$2.33M | $7.61M | $12.76M | $6.27M | -130.7% |
| End cash position | $20.52M | $21.75M | $12.28M | $12.67M | -5.6% |
| Line item | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | YoY |
|---|---|---|---|---|---|---|---|
| Total revenue | $12.27M | $12.72M | $11.86M | $11.36M | $14.30M | — | -3.6% |
| Operating revenue | $12.27M | $12.72M | $11.86M | $11.36M | $14.30M | — | -3.6% |
| Cost of revenue | $7.59M | $8.87M | $12.66M | $6.93M | $10.23M | — | -14.5% |
| Gross profit | $4.68M | $3.85M | -$806.00K | $4.42M | $4.07M | — | +21.4% |
| Selling, general & admin | $3.65M | $3.20M | -$1.80M | $3.13M | $1.80M | — | +14.0% |
| Total operating expense | $7.42M | $3.35M | -$1.67M | $3.21M | $1.92M | — | +121.4% |
| Operating income | -$2.74M | $505.00K | $864.00K | $1.21M | $2.15M | — | -642.0% |
| Net interest income | -$65.00K | -$20.00K | $26.00K | $34.00K | $18.00K | — | -225.0% |
| Pre-tax income | -$20.98M | $988.00K | $801.00K | $1.33M | $2.25M | — | -2,223.1% |
| Tax provision | -$5.09M | $271.00K | $500.00K | $750.00K | $613.00K | — | -1,977.5% |
| Net income | -$15.89M | $717.00K | $301.00K | $585.00K | $1.64M | — | -2,315.9% |
| Net income to common | -$15.89M | $717.00K | $301.00K | $585.00K | $1.64M | — | -2,315.9% |
| Basic EPS | -0.46 | 0.02 | — | 0.02 | 0.05 | 0.03 | -2,400.0% |
| Diluted EPS | -0.46 | 0.02 | — | 0.02 | 0.05 | 0.03 | -2,400.0% |
| EBIT | -$2.74M | $505.00K | $864.00K | $1.21M | $2.15M | — | -642.0% |
| EBITDA | -$2.06M | $679.00K | $1.16M | $1.51M | $2.61M | — | -403.8% |
| Basic shares | 34.63M | 34.60M | — | 34.55M | 34.87M | 35.28M | +0.1% |
| Diluted shares | 34.63M | 34.99M | — | 35.21M | 35.51M | 36.06M | -1.0% |
| Line item | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | YoY |
|---|---|---|---|---|---|---|---|
| Cash & equivalents | $13.18M | $11.57M | $20.52M | $19.43M | $19.85M | — | +13.9% |
| Cash & short-term investments | $13.18M | $11.57M | $20.52M | $19.43M | $19.85M | — | +13.9% |
| Accounts receivable | $2.51M | $1.73M | $1.86M | $1.84M | $2.17M | — | +45.4% |
| Inventory | $5.47M | $5.35M | $5.93M | $5.61M | $5.63M | — | +2.2% |
| Total current assets | $23.00M | $23.76M | $33.59M | $31.80M | $32.11M | — | -3.2% |
| Property, plant & equipment | $13.26M | $13.37M | $12.40M | $11.18M | $10.99M | — | -0.8% |
| Goodwill & intangibles | $18.72M | $18.81M | $10.55M | $10.61M | $10.68M | — | -0.5% |
| Total assets | $70.38M | $84.99M | $88.44M | $86.51M | $87.69M | — | -17.2% |
| Total current liabilities | $13.58M | $12.21M | $15.54M | $13.89M | $15.67M | — | +11.3% |
| Current debt | — | — | — | — | $134.00K | $265.00K | — |
| Long-term debt | $4.10M | $4.10M | $4.10M | $4.10M | $4.10M | — | 0.0% |
| Total debt | $5.35M | $5.54M | $5.72M | $5.90M | $6.21M | — | -3.4% |
| Total liabilities | $18.46M | $17.22M | $21.46M | $20.01M | $21.98M | — | +7.2% |
| Retained earnings | -$239.43M | -$223.54M | -$224.26M | -$224.56M | -$225.14M | — | -7.1% |
| Shareholder equity | $51.91M | $67.77M | $66.98M | $66.50M | $65.71M | — | -23.4% |
| Working capital | $9.42M | $11.56M | $18.06M | $17.92M | $16.44M | — | -18.5% |
| Net tangible assets | $33.19M | $48.96M | $56.44M | $55.88M | $55.03M | — | -32.2% |
| Shares issued | 34.64M | 37.74M | 37.64M | 37.64M | 37.64M | — | -8.2% |
| Line item | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | YoY |
|---|---|---|---|---|---|---|
| Net income | -$15.89M | $717.00K | $301.00K | $585.00K | $1.64M | -2,315.9% |
| Depreciation & amortisation | $674.00K | $174.00K | $293.00K | $294.00K | $458.00K | +287.4% |
| Stock-based compensation | $171.00K | $211.00K | $187.00K | $204.00K | $229.00K | -19.0% |
| Change in working capital | $19.00K | -$3.35M | $269.00K | -$1.53M | -$471.00K | +100.6% |
| Operating cash flow | $1.62M | -$2.68M | $1.58M | $61.00K | $1.88M | +160.4% |
| Capital expenditure | -$209.00K | -$562.00K | -$609.00K | -$294.00K | -$159.00K | +62.8% |
| Investing cash flow | $155.00K | -$5.40M | -$471.00K | -$339.00K | $896.00K | +102.9% |
| Share buybacks | -$134.00K | -$141.00K | $0 | $0 | -$1.58M | +5.0% |
| Financing cash flow | -$159.00K | -$875.00K | -$21.00K | -$134.00K | -$1.72M | +81.8% |
| Free cash flow | $1.41M | -$3.24M | $971.00K | -$233.00K | $1.72M | +143.4% |
| End cash position | $13.18M | $11.57M | $20.52M | $19.43M | $19.85M | +13.9% |
Options analytics
Put / call volume
—
—
Put / call open interest
—
Positioning, not flow
Max pain
—
—
ATM implied vol
—
Nearest strike to spot
Skew (10% OTM)
—
—
Call volume
0
Contracts, this expiry
Put volume
0
Contracts, this expiry
Heaviest call OI
—
—
Heaviest put OI
—
—
Max pain is the strike at which the largest dollar value of open contracts expires worthless. It describes current positioning; it is not a forecast and it moves as open interest changes.
Put/call ratios, max pain, implied volatility skew and where open interest is concentrated.
Earnings
Reported vs expected · EPS
| Quarter | Est. | Actual | Surprise |
|---|---|---|---|
| Jun 2026 | 0.03 | 0.02 | -37.6% |
| Mar 2026 | 0.02 | 0.02 | +33.3% |
| Dec 2025 | 0.04 | 0.01 | -71.4% |
| Sep 2025 | 0.04 | 0.02 | -50.0% |
Forward consensus
| Period | EPS | Analysts | Revenue | Growth |
|---|---|---|---|---|
| Current quarter | 0.03 | 2 | $12.94M | +13.9% |
| Next quarter | 0.06 | 2 | $15.23M | +28.4% |
| Current year | -0.37 | 4 | $53.16M | +4.3% |
| Next year | 0.16 | 2 | $56.49M | +6.3% |
Analyst targets & ownership
Mean target$2.63
High target$3.50
Low target$2.00
Implied upside103.49%
Analyst count4
ConsensusNONE
Strong buy / Buy1 / 3
Hold0
Sell / Strong sell0 / 0
Held by insiders11.58%
Held by institutions37.01%
Institutions holding44
Price targets, consensus spread, insider and institutional ownership.
Moving averages & technicals
SMA 10
1.30
-1.07% from price
SMA 20
1.34
-3.59% from price
SMA 50
1.24
+4.44% from price
SMA 100
1.24
+4.40% from price
SMA 200
1.28
+0.63% from price
EMA 12
1.31
-1.22% from price
EMA 26
1.30
-0.74% from price
EMA 50
1.28
+1.18% from price
RSI (14)
48.5
Neutral
MACD (12,26,9)
0.01
Hist -0.01
ATR (14)
0.06
4.49% of price
Realised vol 30D
45.3%
Annualised
Bollinger upper
1.42
20, 2σ
Bollinger lower
1.25
20, 2σ
50 / 200 cross
Death
1.24 vs 1.28
Trend bias
Above 200
+0.63%
Options chain
Calls
| Strike | Last | Bid | Ask | Vol | OI | IV |
|---|---|---|---|---|---|---|
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
Puts
| Strike | Last | Bid | Ask | Vol | OI | IV |
|---|---|---|---|---|---|---|
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
Every listed expiry, both sides of the book, with volume, open interest and implied volatility.
Risk profile
Beta vs SPY
0.31
Less volatile than market
Correlation to SPY
0.09
Largely independent
Realised vol 30D
45.3%
Annualised
Market vol 1Y
13.0%
SPY, annualised
Max drawdown 1Y
-36.6%
Peak to trough
Max drawdown 5Y
-74.7%
Peak to trough
ATR 14
0.06
4.49% of price
Beta (reported)
0.45
5Y monthly, from filing
Short interest
Shares short
70.83K
Prior 61.77K
Change vs prior
+14.7%
Shorts adding
% of float
0.24%
Normal
% of shares out
0.20%
Against total outstanding
Days to cover
0.2
Liquid
Float
25.85M
Freely tradeable shares
Exchanges publish short interest twice a month with a settlement lag, so this is roughly two weeks behind. Days to cover divides shares short by average daily volume — it estimates how long covering would take, not whether it will happen.
Rating changes
| Date | Firm | Action | From | To |
|---|---|---|---|---|
| Aug 14, 26 | Lake Street | MAINTAINED | Buy | Buy |
| Jan 29, 26 | Freedom Broker | MAINTAINED | Buy | Buy |
| Nov 13, 25 | Freedom Broker | MAINTAINED | Buy | Buy |
| Mar 14, 25 | Lake Street | MAINTAINED | Buy | Buy |
| Aug 11, 23 | Lake Street | MAINTAINED | Buy | Buy |
| May 30, 23 | Craig-Hallum | INITIATED | — | Buy |
| Oct 7, 20 | Lake Street | INITIATED | — | Buy |
Dividends & splits
Forward rate—
Forward yield0.00%
5-year avg yield—
Payout ratio0.00%
Ex-dividend date—
Next pay date—
Last split1:20
Split dateDec 9, 2003
SEC filings
Corporate Changes & Voting Matters
8-K · 2026-09-22
Periodic Financial Reports
10-Q · 2026-08-13
Corporate Changes & Voting Matters
8-K · 2026-08-03
Corporate Changes & Voting Matters
8-K · 2026-07-31
Corporate Changes & Voting Matters
8-K · 2026-06-04
Periodic Financial Reports
10-Q · 2026-05-07
Annual Report to Shareholders
ARS · 2026-04-21
Periodic Financial Reports
10-K · 2026-03-12
Headlines
Heritage Global, Inc. to Announce Third Quarter 2026 Results and Host Webcast on Thursday, November 5, 2026
Business Wire · 2d ago
Heritage Global Partners to Conduct Two Massive Online Auctions of Wren Manufacturing’s Pennsylvania Plants
Business Wire · 37d ago
Heritage Global Inc. Q2 2026 Earnings Call Summary
Moby · 54d ago
Heritage Global Inc (HGBL) (Q2 2026) Earnings Call Highlights: Strategic Wind-Down Drives Major ...
GuruFocus.com · 54d ago
Heritage Global Inc. Reports Second Quarter 2026 Results
Business Wire · 55d ago
Heritage Global Expands Into Seller and Carryback Notes With Acquisition of Boston Note Company
Business Wire · 65d ago
Heritage Global to Wind Down Specialty Lending Business
MT Newswires · 68d ago
Heritage Global Announces Strategic Wind Down of Heritage Global Capital; Reschedules Second Quarter 2026 Earnings Conference Call to Thursday, August 13, 2026
Business Wire · 68d ago
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