Short Interest in Binah Capital Group, Inc. (NASDAQ:BCG) Drops By 36.0%

Binah Capital Group, Inc. (NASDAQ:BCG) was the recipient of a large decrease in short interest during the month of May. As of May 29th, there was short interest totaling 11,209 shares, a decrease of 36.0% from the May 14th total of 17,516 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average daily trading volume, of 59,196 shares, the days-to-cover ratio is currently 0.2 days.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Binah Capital Group in a research note on Friday, March 27th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Binah Capital Group stock. State Street Corp lifted its stake in shares of Binah Capital Group, Inc. (NASDAQ:BCG) by 54.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 25,100 shares of the company’s stock after acquiring an additional 8,800 shares during the quarter. State Street Corp owned about 0.15% of Binah Capital Group worth $72,000 at the end of the most recent reporting period. 4.97% of the stock is owned by hedge funds and other institutional investors.

Binah Capital Group Stock Up 0.4%

NASDAQ BCG traded up $0.01 on Tuesday, hitting $1.62. The stock had a trading volume of 26,788 shares, compared to its average volume of 346,284. The company’s 50-day moving average is $1.85 and its two-hundred day moving average is $2.16. Binah Capital Group has a one year low of $1.36 and a one year high of $3.44. The stock has a market cap of $27.16 million, a price-to-earnings ratio of 11.57 and a beta of 0.27.

Binah Capital Group (NASDAQ:BCG) last released its quarterly earnings results on Friday, May 15th. The company reported $0.09 earnings per share for the quarter. Binah Capital Group had a return on equity of 260.70% and a net margin of 1.70%.The company had revenue of $48.70 million for the quarter.

About Binah Capital Group

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.