Siebert Financial (NASDAQ:SIEB) Shares Pass Above 50 Day Moving Average – Here’s What Happened

Siebert Financial Corp. (NASDAQ:SIEB) shares passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $1.84 and traded as high as $1.9350. Siebert Financial shares last traded at $1.86, with a volume of 45,607 shares traded.

Analyst Upgrades and Downgrades

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 company presently has an average rating of “Sell”.

Siebert Financial Stock Down 4.1%

The company has a 50-day moving average of $1.84 and a 200-day moving average of $2.52. The company has a market capitalization of $76.15 million, a price-to-earnings ratio of -13.28 and a beta of 0.90. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.05.

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. 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. Wells Fargo & Company MN increased its holdings in shares of Siebert Financial by 48.9% in the fourth quarter. Wells Fargo & Company MN now owns 15,818 shares of the financial services provider’s stock valued at $56,000 after purchasing an additional 5,198 shares during the period. JPMorgan Chase & Co. increased 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 purchasing an additional 6,683 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Siebert Financial in the second quarter valued at about $34,000. Finally, Invesco Ltd. acquired a new position in shares of Siebert Financial in the second quarter valued at about $45,000. 1.52% of the stock is owned by institutional investors and hedge funds.

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.