Short Interest in Binah Capital Group, Inc. (NASDAQ:BCG) Drops By 35.3%

Binah Capital Group, Inc. (NASDAQ:BCG) saw a large decrease in short interest in December. As of December 31st, there was short interest totaling 64,685 shares, a decrease of 35.3% from the December 15th total of 99,975 shares. Currently, 0.4% of the company’s shares are sold short. Based on an average daily trading volume, of 39,706 shares, the days-to-cover ratio is currently 1.6 days. Based on an average daily trading volume, of 39,706 shares, the days-to-cover ratio is currently 1.6 days. Currently, 0.4% of the company’s shares are sold short.

Binah Capital Group Price Performance

Shares of NASDAQ:BCG traded down $0.01 during midday trading on Friday, reaching $2.40. 11,067 shares of the company’s stock were exchanged, compared to its average volume of 28,135. The stock has a market cap of $39.84 million, a price-to-earnings ratio of 80.03 and a beta of 0.33. Binah Capital Group has a fifty-two week low of $1.36 and a fifty-two week high of $5.81. The firm’s 50 day simple moving average is $2.36 and its two-hundred day simple moving average is $2.06.

Binah Capital Group (NASDAQ:BCG) last announced its quarterly earnings results on Thursday, November 13th. The company reported $0.08 earnings per share for the quarter. Binah Capital Group had a net margin of 0.58% and a return on equity of 509.27%. The business had revenue of $46.20 million during the quarter.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Binah Capital Group stock. GRIMES & Co WEALTH MANAGEMENT LLC purchased a new position in Binah Capital Group, Inc. (NASDAQ:BCG) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 33,482 shares of the company’s stock, valued at approximately $58,000. GRIMES & Co WEALTH MANAGEMENT LLC owned about 0.20% of Binah Capital Group as of its most recent SEC filing. Institutional investors own 4.97% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Binah Capital Group in a report on Monday, December 29th. 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 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.