Short Interest in Siebert Financial Corp. (NASDAQ:SIEB) Drops By 55.9%

Key Points

• Short interest in Siebert Financial fell sharply in June, dropping 55.9% to 192,437 shares from 436,670 shares two weeks earlier. That leaves about 0.9% of the company’s shares sold short, with a short-interest ratio of 1.0 days.
• The stock edged higher to $1.67, up 1.0% in midday trading, while remaining near its 52-week low of $1.56. Siebert Financial also trades below its 50-day and 200-day moving averages.
• Fundamentals and sentiment remain weak, as the company reported a quarterly EPS loss of $0.05 and negative margins. Weiss Ratings reiterated a “sell” rating, and MarketBeat data shows a consensus analyst rating of “Sell.”

Siebert Financial Corp. (NASDAQ:SIEB - Get Free Report) was the target of a significant drop in short interest during the month of June. As of June 30th, there was short interest totaling 192,437 shares, a drop of 55.9% from the June 15th total of 436,670 shares. Based on an average daily trading volume, of 196,236 shares, the short-interest ratio is currently 1.0 days. Approximately 0.9% of the company's shares are sold short.

Siebert Financial Stock Up 1.0%

SIEB traded up $0.02 during midday trading on Tuesday, hitting $1.67. The company had a trading volume of 1,432 shares, compared to its average volume of 44,800. Siebert Financial has a 52 week low of $1.56 and a 52 week high of $4.30. 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 company has a market capitalization of $68.21 million, a price-to-earnings ratio of -11.90 and a beta of 0.92. The stock's 50 day moving average price is $1.79 and its 200 day moving average price is $2.21.

Siebert Financial (NASDAQ:SIEB - Get Free Report) last released its quarterly earnings data on Friday, May 15th. The financial services provider reported ($0.05) earnings per share (EPS) 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.

Institutional Investors Weigh In On Siebert Financial

Hedge funds and other institutional investors have recently modified their holdings of the company. Williams & Novak LLC lifted 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 worth $36,000 after purchasing an additional 6,100 shares in the last quarter. Wells Fargo & Company MN raised its holdings in Siebert Financial by 48.9% during the fourth quarter. Wells Fargo & Company MN now owns 15,818 shares of the financial services provider's stock worth $56,000 after buying an additional 5,198 shares during the last quarter. Jane Street Group LLC lifted its stake in shares of Siebert Financial by 60.5% in the fourth quarter. Jane Street Group LLC now owns 16,373 shares of the financial services provider's stock valued at $57,000 after buying an additional 6,173 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Siebert Financial by 175.8% during the third quarter. JPMorgan Chase & Co. now owns 18,448 shares of the financial services provider's stock valued at $54,000 after buying an additional 11,759 shares during the last quarter. Finally, Bridgeway Capital Management LLC raised its holdings in shares of Siebert Financial by 156.2% in the 3rd quarter. Bridgeway Capital Management LLC now owns 64,060 shares of the financial services provider's stock worth $187,000 after acquiring an additional 39,060 shares during the last quarter. Institutional investors own 1.52% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a "sell (d)" rating on shares of Siebert Financial in a research report on Friday, June 26th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Sell".

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.

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