Binah Capital Group, Inc. (NASDAQ:BCG) Sees Large Drop in Short Interest

Binah Capital Group, Inc. (NASDAQ:BCG) was the recipient of a significant decrease in short interest during the month of July. As of July 15th, there was short interest totaling 10,009 shares, a decrease of 32.1% from the June 30th total of 14,731 shares. Based on an average daily trading volume, of 16,279 shares, the days-to-cover ratio is presently 0.6 days. Approximately 0.1% of the shares of the company are short sold.

Hedge Funds Weigh In On Binah Capital Group

An institutional investor recently raised its stake in Binah Capital Group stock. State Street Corp increased its holdings in Binah Capital Group, Inc. (NASDAQ:BCG) by 54.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 25,100 shares of the company’s stock after purchasing an additional 8,800 shares during the quarter. State Street Corp owned 0.15% of Binah Capital Group worth $72,000 at the end of the most recent reporting period. Institutional investors own 4.97% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Binah Capital Group in a research report on Wednesday, June 24th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has an average rating of “Sell”.

Binah Capital Group Stock Performance

Shares of NASDAQ BCG opened at $1.45 on Friday. The company has a market capitalization of $24.37 million, a PE ratio of 10.36 and a beta of 0.27. The company’s fifty day moving average price is $1.53 and its 200 day moving average price is $1.92. Binah Capital Group has a 1 year low of $1.36 and a 1 year high of $3.44.

Binah Capital Group (NASDAQ:BCG) last released its quarterly earnings data on Friday, May 15th. The company reported $0.09 earnings per share for the quarter. The company 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%.

Binah Capital Group Company Profile

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.