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

Siebert Financial Corp. (NASDAQ:SIEB) shares passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $2.44 and traded as low as $1.91. Siebert Financial shares last traded at $1.9750, with a volume of 11,497 shares changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings lowered Siebert Financial from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, March 10th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has an average rating of “Sell”.

Siebert Financial Price Performance

The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.13 and a current ratio of 1.13. The stock’s 50-day moving average is $1.83 and its 200 day moving average is $2.42. The stock has a market capitalization of $78.60 million, a PE ratio of -13.71 and a beta of 0.91.

Siebert Financial (NASDAQ:SIEB) last announced its quarterly earnings results on Friday, May 15th. The financial services provider reported ($0.05) earnings per share for the quarter. Siebert Financial had a negative net margin of 6.21% and a negative return on equity of 6.14%. The company had revenue of $23.47 million during the quarter.

Institutional Trading of Siebert Financial

Several institutional investors and hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its holdings in shares of Siebert Financial by 111,383.3% in the second quarter. JPMorgan Chase & Co. now owns 6,689 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 6,683 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Siebert Financial in the 2nd quarter valued at approximately $34,000. Invesco Ltd. purchased a new position in shares of Siebert Financial in the 2nd quarter valued at approximately $45,000. Jane Street Group LLC increased its holdings in shares of Siebert Financial by 40.9% in the first quarter. Jane Street Group LLC now owns 16,443 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 4,775 shares during the period. Finally, Wells Fargo & Company MN raised its stake in shares of Siebert Financial by 48.9% during 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 last quarter. 1.52% of the stock is owned by hedge funds and other institutional investors.

About Siebert Financial

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.