Short Interest in Binah Capital Group, Inc. (NASDAQ:BCG) Declines By 32.1%

Binah Capital Group, Inc. (NASDAQ:BCG) was the recipient of a large drop in short interest in July. As of July 15th, there was short interest totaling 10,009 shares, a drop of 32.1% from the June 30th total of 14,731 shares. Based on an average daily trading volume, of 16,279 shares, the short-interest ratio is currently 0.6 days. Currently, 0.1% of the shares of the stock are sold short.

Institutional Investors Weigh In On Binah Capital Group

An institutional investor recently raised its stake in Binah Capital Group stock. State Street Corp raised its holdings in shares of Binah Capital Group, Inc. (NASDAQ:BCG) by 54.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,100 shares of the company’s stock after buying an additional 8,800 shares during the quarter. State Street Corp owned about 0.15% of Binah Capital Group worth $72,000 as of its most recent SEC filing. Institutional investors own 4.97% of the company’s stock.

Binah Capital Group Price Performance

Shares of Binah Capital Group stock opened at $1.45 on Friday. The stock has a market capitalization of $24.37 million, a P/E ratio of 10.36 and a beta of 0.27. The business has a 50 day simple moving average of $1.54 and a two-hundred day simple moving average of $1.93. Binah Capital Group has a 12 month low of $1.36 and a 12 month high of $3.44.

Binah Capital Group (NASDAQ:BCG) last issued its quarterly earnings results on Friday, May 15th. The company reported $0.09 earnings per share (EPS) for the quarter. Binah Capital Group had a return on equity of 260.70% and a net margin of 1.70%.The firm had revenue of $48.70 million for the quarter.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Binah Capital Group in a report on Wednesday, June 24th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Sell”.

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.