Siebert Financial (NASDAQ:SIEB) Shares Pass Below 200 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.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Siebert Financial in a research note on Friday, June 26th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, Siebert Financial has an average rating of “Sell”.

Siebert Financial Stock Down 0.6%

The stock has a market cap of $67.55 million, a PE ratio of -11.78 and a beta of 0.92. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.05. The firm has a fifty day moving average of $1.78 and a 200 day moving average of $2.11.

Siebert Financial (NASDAQ:SIEB) last posted its 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 business had revenue of $23.47 million for the quarter.

Hedge Funds Weigh In On Siebert Financial

Several hedge funds have recently made changes to their positions in SIEB. Geode Capital Management LLC raised its stake in Siebert Financial by 81.8% during the 2nd quarter. Geode Capital Management LLC now owns 400,488 shares of the financial services provider’s stock valued at $1,770,000 after acquiring an additional 180,186 shares during the last quarter. WINTON GROUP Ltd purchased a new position in shares of Siebert Financial in the 3rd quarter valued at approximately $172,000. Bridgeway Capital Management LLC increased its holdings in shares of Siebert Financial by 156.2% in the third quarter. Bridgeway Capital Management LLC now owns 64,060 shares of the financial services provider’s stock valued at $187,000 after purchasing an additional 39,060 shares during the period. Vanguard Group Inc. increased its holdings in shares of Siebert Financial by 5.6% in the third quarter. Vanguard Group Inc. now owns 723,975 shares of the financial services provider’s stock valued at $2,114,000 after purchasing an additional 38,318 shares during the period. Finally, Russell Investments Group Ltd. purchased a new stake in shares of Siebert Financial during the third quarter worth approximately $92,000. Hedge funds and other institutional investors own 1.52% of the company’s stock.

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.