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

Binah Capital Group, Inc. (NASDAQ:BCG) was the target of a significant decrease in short interest during the month of April. As of April 30th, there was short interest totaling 53,415 shares, a decrease of 55.1% from the April 15th total of 119,059 shares. Based on an average trading volume of 56,637 shares, the days-to-cover ratio is presently 0.9 days. Currently, 0.3% of the company’s stock are sold short.

Institutional Investors Weigh In On Binah Capital Group

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

Analysts Set New Price Targets

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

Binah Capital Group Stock Performance

Shares of NASDAQ BCG traded down $0.09 during mid-day trading on Friday, reaching $1.84. The company had a trading volume of 58,709 shares, compared to its average volume of 98,779. Binah Capital Group has a twelve month low of $1.36 and a twelve month high of $3.44. The stock has a market capitalization of $30.76 million, a PE ratio of 16.73 and a beta of 0.34. The stock’s 50 day moving average is $2.05 and its 200-day moving average is $2.18.

Binah Capital Group (NASDAQ:BCG) last posted its quarterly earnings results on Friday, May 15th. The company reported $0.09 earnings per share for the quarter. Binah Capital Group had a net margin of 1.23% and a return on equity of 421.57%. The business 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.