Siebert Financial (NASDAQ:SIEB) Share Price Passes Below 200 Day Moving Average – Here’s What Happened

Siebert Financial Corp. (NASDAQ:SIEB) shares crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.93 and traded as low as $1.98. Siebert Financial shares last traded at $2.02, with a volume of 34,317 shares.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded shares of Siebert Financial from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has a consensus rating of “Sell”.

Siebert Financial Stock Performance

The stock has a 50-day moving average price of $2.65 and a 200-day moving average price of $2.93. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.14 and a quick ratio of 1.14. The company has a market capitalization of $81.67 million, a price-to-earnings ratio of 11.22 and a beta of 1.02.

Institutional Trading of Siebert Financial

A number of hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its holdings in Siebert Financial by 111,383.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 6,689 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 6,683 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Siebert Financial in the second quarter valued at approximately $34,000. Invesco Ltd. acquired a new stake in shares of Siebert Financial during the 2nd quarter worth $45,000. Los Angeles Capital Management LLC acquired a new stake in shares of Siebert Financial during the 2nd quarter worth $48,000. Finally, Wells Fargo & Company MN increased its position in shares of Siebert Financial by 48.9% in the fourth quarter. Wells Fargo & Company MN now owns 15,818 shares of the financial services provider’s stock worth $56,000 after purchasing an additional 5,198 shares during the period. Institutional investors and hedge funds own 1.52% of the company’s stock.

Siebert Financial Company Profile

Siebert Financial Corp., trading on the Nasdaq under the symbol SIEB, is the bank holding company for Siebert Bank & Trust, offering a full range of community banking services. Through its subsidiary, the company provides traditional deposit products, lending solutions and digital banking capabilities designed to meet the needs of individuals, businesses and agricultural customers.

Siebert’s product suite includes checking and savings accounts, certificates of deposit and money market instruments, alongside consumer and mortgage loans, agricultural lending and commercial credit facilities.