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

Binah Capital Group, Inc. (NASDAQ:BCG) was the target of a large drop in short interest during 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 company’s shares are short sold. Based on an average daily trading volume, of 31,003 shares, the short-interest ratio is presently 0.3 days.

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut shares of Binah Capital Group from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, September 1st. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has an average rating of “Sell”.

Binah Capital Group Price Performance

Binah Capital Group stock traded down $0.01 during mid-day trading on Friday, reaching $1.25. The company had a trading volume of 14,052 shares, compared to its average volume of 239,768. Binah Capital Group has a 1 year low of $1.20 and a 1 year high of $3.44. The company has a market capitalization of $21.32 million, a P/E ratio of 6.94 and a beta of 0.27. The stock’s 50-day simple moving average is $1.43 and its 200-day simple moving average is $1.73.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in Binah Capital Group stock. Citadel Advisors LLC purchased a new position in shares of Binah Capital Group, Inc. (NASDAQ:BCG) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 32,395 shares of the company’s stock, valued at approximately $50,000. Citadel Advisors LLC owned about 0.19% of Binah Capital Group as of its most recent SEC filing. 4.97% of the stock is currently owned by hedge funds and other institutional investors.

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.