Siebert Financial (NASDAQ:SIEB) Stock Passes Below Two Hundred Day Moving Average – Here’s Why

Siebert Financial Corp. (NASDAQ:SIEB) shares passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.11 and traded as low as $1.65. Siebert Financial shares last traded at $1.65, with a volume of 16,438 shares traded.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Siebert Financial in a report on Friday, June 26th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has a consensus 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 has a market capitalization of $67.96 million, a price-to-earnings ratio of -11.86 and a beta of 0.92. The company has a 50-day moving average of $1.78 and a 200-day moving average of $2.10.

Siebert Financial (NASDAQ:SIEB) last released 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 return on equity of 6.14% and a negative net margin of 6.21%.The company had revenue of $23.47 million for the quarter.

Hedge Funds Weigh In On Siebert Financial

Several institutional investors and hedge funds have recently modified their holdings of SIEB. JPMorgan Chase & Co. boosted its position in Siebert Financial by 111,383.3% during the second quarter. JPMorgan Chase & Co. now owns 6,689 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 6,683 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Siebert Financial in the second quarter valued at $34,000. Williams & Novak LLC grew its position in shares of Siebert Financial by 38.6% in the second quarter. Williams & Novak LLC now owns 21,900 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 6,100 shares during the period. Invesco Ltd. acquired a new position in Siebert Financial in the second quarter valued at $45,000. Finally, Jane Street Group LLC lifted its position in Siebert Financial by 40.9% during the first quarter. Jane Street Group LLC now owns 16,443 shares of the financial services provider’s stock worth $49,000 after buying an additional 4,775 shares during the period. Hedge funds and other institutional investors 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.