Liquidity Services, Inc. (NASDAQ:LQDT) hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $5.80 and last traded at $5.85, with a volume of 79,910 shares traded. The stock had previously closed at $6.03.
Several research analysts have recently weighed in on LQDT shares. Robert W. Baird reiterated a “neutral” rating on shares of Liquidity Services in a research note on Monday, July 3rd. Zacks Investment Research cut shares of Liquidity Services from a “hold” rating to a “sell” rating in a research note on Thursday, August 10th. Finally, ValuEngine upgraded shares of Liquidity Services from a “strong sell” rating to a “sell” rating in a research note on Friday, June 2nd.
The firm’s market cap is $185.87 million. The firm has a 50-day moving average of $6.38 and a 200 day moving average of $7.28.
Liquidity Services (NASDAQ:LQDT) last released its quarterly earnings data on Thursday, August 3rd. The business services provider reported ($0.22) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.25) by $0.03. The firm had revenue of $65.50 million for the quarter, compared to analyst estimates of $79.56 million. Liquidity Services had a negative net margin of 27.52% and a negative return on equity of 16.59%. The business’s quarterly revenue was down 23.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.07 earnings per share. On average, equities analysts forecast that Liquidity Services, Inc. will post ($0.91) earnings per share for the current fiscal year.
Several hedge funds have recently added to or reduced their stakes in LQDT. Staley Capital Advisers Inc. raised its stake in Liquidity Services by 17.4% in the first quarter. Staley Capital Advisers Inc. now owns 2,425,000 shares of the business services provider’s stock worth $19,400,000 after buying an additional 360,000 shares during the last quarter. Renaissance Technologies LLC raised its stake in Liquidity Services by 22.0% in the second quarter. Renaissance Technologies LLC now owns 1,981,239 shares of the business services provider’s stock worth $12,581,000 after buying an additional 357,240 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Liquidity Services by 19.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 753,862 shares of the business services provider’s stock worth $7,350,000 after buying an additional 125,213 shares during the last quarter. Vanguard Group Inc. raised its stake in Liquidity Services by 5.7% in the first quarter. Vanguard Group Inc. now owns 1,309,668 shares of the business services provider’s stock worth $10,477,000 after buying an additional 71,139 shares during the last quarter. Finally, State Street Corp raised its stake in Liquidity Services by 6.0% in the fourth quarter. State Street Corp now owns 680,126 shares of the business services provider’s stock worth $6,635,000 after buying an additional 38,642 shares during the last quarter. Hedge funds and other institutional investors own 66.27% of the company’s stock.
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About Liquidity Services
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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