Liquidity Services (NASDAQ:LQDT) Sees Large Volume Increase on Analyst Upgrade

Liquidity Services, Inc. (NASDAQ:LQDT) shares saw unusually-strong trading volume on Friday after Craig Hallum raised their price target on the stock from $28.00 to $37.00. Craig Hallum currently has a buy rating on the stock. Approximately 221,001 shares were traded during mid-day trading, an increase of 78% from the previous session’s volume of 124,195 shares.The stock last traded at $34.81 and had previously closed at $33.66.

Separately, Barrington Research reaffirmed an “outperform” rating and issued a $27.00 price objective on shares of Liquidity Services in a report on Tuesday.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of LQDT. Franklin Resources Inc. grew its position in Liquidity Services by 7.3% in the 3rd quarter. Franklin Resources Inc. now owns 15,009 shares of the business services provider’s stock valued at $339,000 after buying an additional 1,019 shares in the last quarter. Barclays PLC boosted its holdings in shares of Liquidity Services by 307.3% in the third quarter. Barclays PLC now owns 39,427 shares of the business services provider’s stock valued at $899,000 after acquiring an additional 29,746 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Liquidity Services by 0.5% during the third quarter. Geode Capital Management LLC now owns 515,584 shares of the business services provider’s stock valued at $11,757,000 after acquiring an additional 2,392 shares during the period. Jane Street Group LLC increased its stake in shares of Liquidity Services by 33.4% during the third quarter. Jane Street Group LLC now owns 55,173 shares of the business services provider’s stock valued at $1,258,000 after acquiring an additional 13,804 shares during the period. Finally, State Street Corp raised its holdings in Liquidity Services by 1.7% during the third quarter. State Street Corp now owns 852,306 shares of the business services provider’s stock worth $19,433,000 after purchasing an additional 13,947 shares in the last quarter. 71.15% of the stock is owned by institutional investors and hedge funds.

Liquidity Services Stock Performance

The stock has a market capitalization of $1.06 billion, a P/E ratio of 53.43 and a beta of 1.42. The business has a 50 day simple moving average of $23.91 and a 200-day simple moving average of $22.02.

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.