Binah Capital Group, Inc. (NASDAQ:BCG) Short Interest Up 78.1% in June

Binah Capital Group, Inc. (NASDAQ:BCG) was the recipient of a large growth in short interest in June. As of June 15th, there was short interest totaling 19,960 shares, a growth of 78.1% from the May 31st total of 11,209 shares. Based on an average daily trading volume, of 26,151 shares, the days-to-cover ratio is presently 0.8 days. Currently, 0.1% of the company’s stock are sold short.

Institutional Inflows and Outflows

A hedge fund recently raised its position in Binah Capital Group stock. State Street Corp raised its stake in Binah Capital Group, Inc. (NASDAQ:BCG) by 54.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 25,100 shares of the company’s stock after purchasing an additional 8,800 shares during the period. State Street Corp owned 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.

Analyst Upgrades and Downgrades

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

Binah Capital Group Stock Down 0.6%

Shares of BCG opened at $1.53 on Thursday. The firm has a market cap of $25.72 million, a price-to-earnings ratio of 10.93 and a beta of 0.27. The business’s 50 day moving average is $1.73 and its two-hundred day moving average is $2.07. Binah Capital Group has a 52-week low of $1.36 and a 52-week high of $3.44.

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

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.