Binah Capital Group, Inc. (NASDAQ:BCG) Short Interest Down 85.4% in August

Binah Capital Group, Inc. (NASDAQ:BCG) saw a significant 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. Approximately 0.1% of the shares of the stock are short sold. Based on an average trading volume of 31,003 shares, the short-interest ratio is presently 0.3 days.

Hedge Funds Weigh In On Binah Capital Group

An institutional investor recently bought a new position in Binah Capital Group stock. Citadel Advisors LLC bought a new position in shares of Binah Capital Group, Inc. (NASDAQ:BCG) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 32,395 shares of the company’s stock, valued at approximately $50,000. Citadel Advisors LLC owned about 0.19% of Binah Capital Group as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors own 4.97% of the company’s stock.

Binah Capital Group Stock Performance

BCG stock traded down $0.01 during trading on Friday, hitting $1.25. The stock had a trading volume of 14,052 shares, compared to its average volume of 239,768. The stock has a market cap of $21.32 million, a price-to-earnings ratio of 6.94 and a beta of 0.27. The company’s 50 day moving average price is $1.43 and its two-hundred day moving average price is $1.73. Binah Capital Group has a 1-year low of $1.20 and a 1-year high of $3.44.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded Binah Capital Group from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, September 1st. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has a consensus 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.