Siebert Financial (NASDAQ:SIEB) Shares Break Above 50 Day Moving Average - Here's What Happened

Key Points

• Siebert Financial shares rose above their 50-day moving average of $2.06, reaching $2.30 before closing at $2.23, up 1.4% on trading volume of 39,511 shares.
• Despite the technical gain, Weiss Ratings reaffirmed a “sell (D)” rating, and the sole analyst covering the stock also rates it “Sell.”
• The company reported a quarterly loss of $0.01 per share on $31.17 million in revenue, while institutional ownership remained limited at 1.52%.

Siebert Financial Corp. (NASDAQ:SIEB - Get Free Report)'s share price passed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $2.06 and traded as high as $2.30. Siebert Financial shares last traded at $2.23, with a volume of 39,511 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a "sell (d)" rating on shares of Siebert Financial in a research report on Tuesday, September 22nd. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has a consensus rating of "Sell".

Siebert Financial Stock Up 1.4%

The firm has a market cap of $91.65 million, a price-to-earnings ratio of -74.31 and a beta of 0.99. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.07 and a quick ratio of 1.07. The stock has a 50-day moving average of $2.06 and a 200-day moving average of $1.91.

Siebert Financial (NASDAQ:SIEB - Get Free Report) last posted its quarterly earnings data on Tuesday, August 11th. The financial services provider reported ($0.01) EPS for the quarter. The company had revenue of $31.17 million for the quarter. Siebert Financial had a negative return on equity of 1.25% and a negative net margin of 1.07%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. bought a new position in Siebert Financial in the second quarter valued at approximately $168,000. Susquehanna International Group LLP lifted its stake in Siebert Financial by 68.5% during the second quarter. Susquehanna International Group LLP now owns 48,308 shares of the financial services provider's stock worth $80,000 after purchasing an additional 19,643 shares during the last quarter. Finally, Williams & Novak LLC boosted its holdings in shares of Siebert Financial by 38.6% in the 2nd 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 in the last quarter. Institutional investors and hedge funds own 1.52% of the company's stock.

Siebert Financial Company Profile

Siebert Financial Corp. NASDAQ: SIEB is a diversified financial services holding company that provides brokerage, investment advisory and related financial services through its subsidiaries. The company serves individual, corporate and institutional clients with access to securities markets and investment products.

Its principal activities include online and traditional securities brokerage, financial planning and investment advisory services, retirement account services, and securities lending.

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