Zacks Investment Research upgraded shares of Liquidity Services (NASDAQ:LQDT) from a hold rating to a buy rating in a report released on Wednesday, March 14th. They currently have $8.00 target price on the business services provider’s stock.
According to Zacks, “Liquidity Services, Inc. employs innovative e-commerce marketplace solutions to manage, value and sell inventory and equipment for business and government clients. The company operates a network of leading e-commerce marketplaces that enable buyers and sellers to transact in an efficient, automated environment offering over 500 product categories. Their superior service, unmatched scale and ability to deliver results enable us to forge trusted, long-term relationships with over 10,000 clients worldwide. “
LQDT has been the subject of several other reports. Barrington Research upgraded Liquidity Services from a market perform rating to an outperform rating in a research note on Thursday, February 1st. ValuEngine lowered Liquidity Services from a sell rating to a strong sell rating in a research note on Thursday, February 8th.
NASDAQ LQDT traded down $0.20 on Wednesday, reaching $6.15. The company had a trading volume of 63,258 shares, compared to its average volume of 126,049. The company has a market capitalization of $196.40, a PE ratio of -6.28 and a beta of 0.62. Liquidity Services has a 52 week low of $4.34 and a 52 week high of $8.05.
Liquidity Services (NASDAQ:LQDT) last posted its quarterly earnings data on Thursday, February 1st. The business services provider reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.19. The company had revenue of $61.14 million during the quarter, compared to analysts’ expectations of $65.42 million. Liquidity Services had a negative return on equity of 20.43% and a negative net margin of 12.29%. Liquidity Services’s revenue for the quarter was down 13.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.22) earnings per share. equities research analysts predict that Liquidity Services will post -0.46 EPS for the current year.
In related news, insider Roger Gravley sold 12,385 shares of the stock in a transaction that occurred on Monday, April 2nd. The stock was sold at an average price of $6.23, for a total transaction of $77,158.55. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 22.30% of the company’s stock.
Large investors have recently modified their holdings of the stock. SG Americas Securities LLC acquired a new stake in shares of Liquidity Services in the 4th quarter valued at $105,000. Citadel Advisors LLC acquired a new stake in shares of Liquidity Services in the 4th quarter valued at $115,000. Millennium Management LLC acquired a new stake in shares of Liquidity Services in the 4th quarter valued at $148,000. Elkfork Partners LLC acquired a new stake in shares of Liquidity Services in the 4th quarter valued at $164,000. Finally, Investors Research Corp acquired a new stake in shares of Liquidity Services in the 4th quarter valued at $171,000. 67.60% of the stock is currently owned by institutional investors and hedge funds.
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Liquidity Services Company Profile
Liquidity Services, Inc operates a network of e-commerce marketplaces that enable buyers and sellers to transact in an automated environment. The Company employs e-commerce marketplace solutions to manage, value and sell inventory and equipment for business and government clients. The Company’s marketplaces provide professional buyers access to a global supply of new, surplus and scrap assets presented with digital images and other relevant product information.
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