Binah Capital Group, Inc. (NASDAQ:BCG) Sees Significant Growth in Short Interest

Binah Capital Group, Inc. (NASDAQ:BCG) saw a large growth in short interest in the month of August. As of August 14th, there was short interest totaling 60,900 shares, a growth of 563.8% from the July 30th total of 9,175 shares. Approximately 0.4% of the company’s stock are short sold. Based on an average daily volume of 96,026 shares, the short-interest ratio is currently 0.6 days.

Binah Capital Group Trading Down 1.0%

Shares of Binah Capital Group stock opened at $1.45 on Wednesday. The firm has a fifty day simple moving average of $1.48 and a 200-day simple moving average of $1.80. The stock has a market capitalization of $24.65 million, a price-to-earnings ratio of 8.03 and a beta of 0.27. Binah Capital Group has a 1-year low of $1.26 and a 1-year high of $3.44.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded shares of Binah Capital Group from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday, August 18th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Sell”.

Institutional Inflows and Outflows

A hedge fund recently raised its position in Binah Capital Group stock. State Street Corp raised its position in shares of Binah Capital Group, Inc. (NASDAQ:BCG) by 54.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,100 shares of the company’s stock after acquiring an additional 8,800 shares during the period. State Street Corp owned approximately 0.15% of Binah Capital Group worth $72,000 as of its most recent SEC filing. 4.97% of the stock is owned by hedge funds and other institutional investors.

Binah Capital Group Company Profile

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.