Siebert Financial (NASDAQ:SIEB) Shares Break Above Fifty Day Moving Average – Here’s What Happened

Siebert Financial Corp. (NASDAQ:SIEB) crossed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $2.06 and traded as high as $2.30. Siebert Financial shares last traded at $2.23, with a volume of 39,511 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Siebert Financial in a research note on Tuesday, September 22nd. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has an average rating of “Sell”.

Siebert Financial Price Performance

The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $88.37 million, a PE ratio of -71.64 and a beta of 0.99. The firm’s 50 day simple moving average is $2.07 and its 200 day simple moving average is $1.91.

Siebert Financial (NASDAQ:SIEB) last issued its quarterly earnings results on Tuesday, August 11th. The financial services provider reported ($0.01) EPS for the quarter. The firm had revenue of $31.17 million for the quarter. Siebert Financial had a negative net margin of 1.07% and a negative return on equity of 1.25%.

Institutional Investors Weigh In On Siebert Financial

Several hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. purchased a new position in Siebert Financial during the 2nd quarter valued at $168,000. Susquehanna International Group LLP increased its stake in Siebert Financial by 68.5% in the second quarter. Susquehanna International Group LLP now owns 48,308 shares of the financial services provider’s stock worth $80,000 after purchasing an additional 19,643 shares during the period. Finally, Williams & Novak LLC increased its stake in Siebert Financial by 38.6% in the second quarter. Williams & Novak LLC now owns 21,900 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 6,100 shares during the period. 1.52% of the stock is currently owned by hedge funds and other institutional investors.

About Siebert Financial

Siebert Financial Corp. (NASDAQ:SIEB) is a diversified financial services holding company that provides brokerage, investment advisory and related financial services through its subsidiaries. The company serves individual, corporate and institutional clients with access to securities markets and investment products.

Its principal activities include online and traditional securities brokerage, financial planning and investment advisory services, retirement account services, and securities lending.