Binah Capital Group (NASDAQ:BCG) Stock Price Up 2.5% – Here’s Why

Binah Capital Group, Inc. (NASDAQ:BCG)’s stock price rose 2.5% on Wednesday . The stock traded as high as $2.06 and last traded at $2.06. Approximately 3,764 shares were traded during mid-day trading, a decline of 27% from the average daily volume of 5,173 shares. The stock had previously closed at $2.01.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Binah Capital Group in a research report on Monday, December 29th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has a consensus rating of “Sell”.

Binah Capital Group Trading Up 1.9%

The business has a fifty day moving average price of $2.25 and a 200-day moving average price of $2.11. The stock has a market capitalization of $36.52 million, a PE ratio of 73.36 and a beta of 0.34.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Binah Capital Group stock. GRIMES & Co WEALTH MANAGEMENT LLC purchased a new position in shares of Binah Capital Group, Inc. (NASDAQ:BCG) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 33,482 shares of the company’s stock, valued at approximately $58,000. GRIMES & Co WEALTH MANAGEMENT LLC owned approximately 0.20% of Binah Capital Group as of its most recent filing with the Securities and Exchange Commission (SEC). 4.97% of the stock is owned by hedge funds and other institutional investors.

About Binah Capital Group

Binah Capital Group, Inc, together with its subsidiaries, operates in the wealth management industry. The company provides access to stock, bond, exchange-traded fund, and options execution services; and research, compliance, supervision, and accounting and related services for financial advisors. It also offers mutual funds and insurance products, as well as alternative investments, such as non-traded real estate investment trusts, unit trusts, and fixed and variable annuities. The company was founded in 2016 and is headquartered in Albany, New York.