Liquidity Services (NASDAQ:LQDT) Trading Down 4% – Here’s Why

Shares of Liquidity Services, Inc. (NASDAQ:LQDT) dropped 4% on Monday . The company traded as low as $34.10 and last traded at $34.13. Approximately 91,095 shares changed hands during trading, a decline of 29% from the average daily volume of 128,011 shares. The stock had previously closed at $35.54.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. StockNews.com lowered shares of Liquidity Services from a “strong-buy” rating to a “buy” rating in a report on Friday. Barrington Research reaffirmed an “outperform” rating and set a $27.00 target price on shares of Liquidity Services in a research note on Tuesday, December 10th. Finally, Craig Hallum raised their price target on Liquidity Services from $28.00 to $37.00 and gave the stock a “buy” rating in a research note on Friday.

Liquidity Services Trading Down 6.9 %

The company’s 50 day moving average is $24.18 and its 200 day moving average is $22.17. The company has a market cap of $1.01 billion, a PE ratio of 52.22 and a beta of 1.42.

Institutional Trading of Liquidity Services

Several institutional investors and hedge funds have recently modified their holdings of the stock. nVerses Capital LLC bought a new position in Liquidity Services in the third quarter worth approximately $48,000. GAMMA Investing LLC increased its stake in shares of Liquidity Services by 29.9% during the third quarter. GAMMA Investing LLC now owns 4,362 shares of the business services provider’s stock valued at $99,000 after buying an additional 1,005 shares during the period. Ashton Thomas Private Wealth LLC bought a new stake in shares of Liquidity Services in the second quarter valued at about $87,000. Centiva Capital LP bought a new stake in shares of Liquidity Services in the third quarter valued at about $260,000. Finally, SG Americas Securities LLC purchased a new stake in Liquidity Services in the third quarter worth about $298,000. Institutional investors own 71.15% of the company’s stock.

About Liquidity Services

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.