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

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

Hedge Funds Weigh In On Binah Capital Group

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 the company in its most recent Form 13F filing with the 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 approximately 0.15% of Binah Capital Group worth $72,000 at the end of the most recent reporting period. 4.97% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Binah Capital Group Price Performance

Shares of NASDAQ BCG opened at $1.60 on Wednesday. The company has a market cap of $26.90 million, a P/E ratio of 11.43 and a beta of 0.27. Binah Capital Group has a 1 year low of $1.36 and a 1 year high of $3.44. The firm has a 50-day simple moving average of $1.84 and a two-hundred day simple moving average of $2.15.

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

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.