Short Interest in Binah Capital Group, Inc. (NASDAQ:BCG) Declines By 85.4%

Binah Capital Group, Inc. (NASDAQ:BCG) saw a significant drop in short interest in the month of August. As of August 31st, there was short interest totaling 8,870 shares, a drop of 85.4% from the August 15th total of 60,900 shares. Currently, 0.1% of the shares of the company are short sold. Based on an average daily volume of 31,003 shares, the short-interest ratio is presently 0.3 days.

Institutional Investors Weigh In On Binah Capital Group

An institutional investor recently raised its stake in Binah Capital Group stock. State Street Corp lifted its stake in Binah Capital Group, Inc. (NASDAQ:BCG) by 54.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,100 shares of the company’s stock after buying an additional 8,800 shares during the period. State Street Corp owned approximately 0.15% of Binah Capital Group worth $72,000 as of its most recent filing with the Securities and Exchange Commission. 4.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered Binah Capital Group from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, September 1st. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Binah Capital Group has an average rating of “Sell”.

Binah Capital Group Price Performance

Binah Capital Group stock traded up $0.02 during midday trading on Friday, hitting $1.28. The company’s stock had a trading volume of 24,947 shares, compared to its average volume of 38,353. The company has a market cap of $21.84 million, a price-to-earnings ratio of 7.11 and a beta of 0.27. Binah Capital Group has a 1-year low of $1.20 and a 1-year high of $3.44. The company has a 50-day moving average price of $1.42 and a two-hundred day moving average price of $1.72.

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.