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

Binah Capital Group, Inc. (NASDAQ:BCG) was the recipient of a significant decline in short interest during the month of April. As of April 30th, there was short interest totaling 53,415 shares, a decline of 55.1% from the April 15th total of 119,059 shares. Currently, 0.3% of the company’s stock are sold short. Based on an average daily trading volume, of 56,637 shares, the days-to-cover ratio is currently 0.9 days.

Binah Capital Group Stock Down 4.7%

BCG stock traded down $0.09 during midday trading on Friday, reaching $1.84. The company had a trading volume of 58,709 shares, compared to its average volume of 98,779. The stock has a 50 day moving average price of $2.05 and a 200 day moving average price of $2.18. Binah Capital Group has a fifty-two week low of $1.36 and a fifty-two week high of $3.44. The firm has a market capitalization of $30.76 million, a PE ratio of 13.14 and a beta of 0.34.

Binah Capital Group (NASDAQ:BCG) last issued its earnings results on Friday, May 15th. The company reported $0.09 EPS for the quarter. Binah Capital Group had a return on equity of 421.57% and a net margin of 1.23%.The company had revenue of $48.70 million during the quarter.

Hedge Funds Weigh In On Binah Capital Group

An institutional investor recently raised its position in Binah Capital Group stock. State Street Corp lifted its holdings in shares of 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 at the end of the most recent reporting period. Hedge funds and other institutional investors own 4.97% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Binah Capital Group in a report on Friday, March 27th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has an average rating of “Sell”.

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.