Short Interest in Binah Capital Group, Inc. (NASDAQ:BCG) Drops By 47.5%

Binah Capital Group, Inc. (NASDAQ:BCG) was the target of a large drop in short interest during the month of January. As of January 15th, there was short interest totaling 33,973 shares, a drop of 47.5% from the December 31st total of 64,685 shares. Based on an average daily trading volume, of 18,829 shares, the days-to-cover ratio is presently 1.8 days. Approximately 0.2% of the shares of the company are sold short. Approximately 0.2% of the shares of the company are sold short. Based on an average daily trading volume, of 18,829 shares, the days-to-cover ratio is presently 1.8 days.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Binah Capital Group stock. GRIMES & Co WEALTH MANAGEMENT LLC acquired a new stake in Binah Capital Group, Inc. (NASDAQ:BCG) in the third quarter, according to the company in its most recent 13F filing with the 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 as of its most recent SEC filing. 4.97% of the stock is owned by institutional investors and hedge funds.

Binah Capital Group Stock Performance

Shares of BCG opened at $2.30 on Friday. The stock has a fifty day moving average price of $2.49 and a two-hundred day moving average price of $2.09. The company has a market cap of $38.18 million, a price-to-earnings ratio of 76.69 and a beta of 0.33. Binah Capital Group has a 52-week low of $1.36 and a 52-week high of $5.81.

Binah Capital Group (NASDAQ:BCG) last released its quarterly earnings results on Thursday, November 13th. The company reported $0.08 EPS for the quarter. The business had revenue of $46.20 million for the quarter. Binah Capital Group had a net margin of 0.58% and a return on equity of 509.27%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Binah Capital Group in a research report on Monday, December 29th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has an average rating of “Sell”.

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.