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

Binah Capital Group, Inc. (NASDAQ:BCG) was the recipient of a large decline in short interest during the month of August. As of August 31st, there was short interest totaling 8,870 shares, a decline of 85.4% from the August 15th total of 60,900 shares. Currently, 0.1% of the company’s stock are short sold. Based on an average daily volume of 31,003 shares, the days-to-cover ratio is currently 0.3 days.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Binah Capital Group

A hedge fund recently bought a new position in Binah Capital Group stock. Citadel Advisors LLC acquired a new position in shares of Binah Capital Group, Inc. (NASDAQ:BCG) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 32,395 shares of the company’s stock, valued at approximately $50,000. Citadel Advisors LLC owned approximately 0.19% of Binah Capital Group as of its most recent filing with the Securities and Exchange Commission. 4.97% of the stock is currently owned by institutional investors and hedge funds.

Binah Capital Group Price Performance

NASDAQ:BCG traded up $0.02 during mid-day trading on Friday, reaching $1.28. The stock had a trading volume of 24,947 shares, compared to its average volume of 38,353. Binah Capital Group has a 12 month low of $1.20 and a 12 month high of $3.44. The stock has a market capitalization of $21.84 million, a PE ratio of 7.11 and a beta of 0.27. The stock has a 50-day simple moving average of $1.42 and a two-hundred day simple moving average of $1.72.

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.