Liquidity Services (NASDAQ:LQDT) Hits New 52-Week High – What’s Next?

Liquidity Services, Inc. (NASDAQ:LQDT)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $26.24 and last traded at $25.93, with a volume of 218369 shares changing hands. The stock had previously closed at $25.15.

Wall Street Analyst Weigh In

Several brokerages recently commented on LQDT. Craig Hallum lifted their price target on shares of Liquidity Services from $28.00 to $37.00 and gave the stock a “buy” rating in a research note on Friday. Barrington Research reaffirmed an “outperform” rating and set a $27.00 price objective on shares of Liquidity Services in a report on Tuesday.

Liquidity Services Stock Up 5.6 %

The company has a fifty day moving average price of $23.91 and a two-hundred day moving average price of $22.02. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of 53.43 and a beta of 1.42.

Hedge Funds Weigh In On Liquidity Services

Several institutional investors have recently added to or reduced their stakes in LQDT. Pacer Advisors Inc. grew its stake in shares of Liquidity Services by 9.5% in the 3rd quarter. Pacer Advisors Inc. now owns 881,234 shares of the business services provider’s stock valued at $20,092,000 after purchasing an additional 76,794 shares during the last quarter. State Street Corp grew its position in Liquidity Services by 1.7% in the 3rd quarter. State Street Corp now owns 852,306 shares of the business services provider’s stock valued at $19,433,000 after buying an additional 13,947 shares during the last quarter. Geode Capital Management LLC increased its stake in Liquidity Services by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 515,584 shares of the business services provider’s stock valued at $11,757,000 after buying an additional 2,392 shares during the period. Acadian Asset Management LLC raised its position in Liquidity Services by 15.7% during the 2nd quarter. Acadian Asset Management LLC now owns 503,600 shares of the business services provider’s stock worth $10,060,000 after buying an additional 68,407 shares during the last quarter. Finally, Rice Hall James & Associates LLC boosted its holdings in shares of Liquidity Services by 1.3% in the third quarter. Rice Hall James & Associates LLC now owns 367,302 shares of the business services provider’s stock valued at $8,374,000 after acquiring an additional 4,838 shares in the last quarter. Institutional investors and hedge funds own 71.15% of the company’s stock.

Liquidity Services Company Profile

Liquidity Services, Inc provides e-commerce marketplaces, self-directed auction listing tools, and value-added services in the United States and internationally. The company operates through four segments: GovDeals, Retail Supply Chain Group (RSCG), Capital Assets Group (CAG), and Machinio. Its marketplaces include liquidation.com that enable corporations to sell surplus and salvage consumer goods and retail capital assets; GovDeals marketplace, which provides self-directed service solutions in which sellers list their own assets that enables local and state government entities, and commercial businesses located in the United States and Canada to sell surplus and salvage assets; and AllSurplus, a centralized marketplace that connects global buyer base with assets from across the network of marketplaces in a single destination.