Binah Capital Group, Inc. (NASDAQ:BCG) Sees Significant Growth in Short Interest

Binah Capital Group, Inc. (NASDAQ:BCG) was the recipient of a large increase in short interest in the month of August. As of August 14th, there was short interest totaling 60,900 shares, an increase of 563.8% from the July 30th total of 9,175 shares. Based on an average daily volume of 96,026 shares, the days-to-cover ratio is presently 0.6 days. Currently, 0.4% of the shares of the company are sold short.

Binah Capital Group Stock Down 1.0%

NASDAQ BCG opened at $1.45 on Wednesday. The stock has a market cap of $24.65 million, a P/E ratio of 8.03 and a beta of 0.27. The company’s 50-day simple moving average is $1.48 and its 200 day simple moving average is $1.80. Binah Capital Group has a twelve month low of $1.26 and a twelve month high of $3.44.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised Binah Capital Group from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday, August 18th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has an average rating of “Sell”.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Binah Capital Group stock. State Street Corp raised its holdings in Binah Capital Group, Inc. (NASDAQ:BCG) by 54.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 25,100 shares of the company’s stock after purchasing an additional 8,800 shares during the quarter. State Street Corp owned approximately 0.15% of Binah Capital Group worth $72,000 as of its most recent SEC filing. Institutional investors and hedge funds own 4.97% of the company’s stock.

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.