Siebert Financial (NASDAQ:SIEB) Share Price Passes Below Two Hundred Day Moving Average - Here's Why

Key Points

• Siebert Financial shares fell below their 200-day moving average, trading as low as $1.59 and closing around $1.60 versus the $2.03 long-term average.
• Analyst sentiment remains negative: Weiss Ratings reiterated a “sell (d)” rating, and the sole analyst covering the stock gives it a consensus “Sell” rating.
• The company reported a quarterly loss of $0.05 per share on $23.47 million in revenue, alongside negative net margin and return on equity; institutional investors own only 1.52% of the stock.

Siebert Financial Corp. (NASDAQ:SIEB - Get Free Report) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.03 and traded as low as $1.59. Siebert Financial shares last traded at $1.60, with a volume of 6,434 shares trading hands.

Analyst Upgrades and Downgrades

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

Siebert Financial Stock Down 0.6%

The stock has a market capitalization of $65.50 million, a price-to-earnings ratio of -11.43 and a beta of 0.92. The business has a fifty day moving average of $1.77 and a 200 day moving average of $2.03. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.13 and a quick ratio of 1.13.

Siebert Financial (NASDAQ:SIEB - Get Free Report) last issued its quarterly earnings data 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 during the quarter.

Institutional Trading of Siebert Financial

Hedge funds and other institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. raised its holdings in Siebert Financial by 111,383.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,689 shares of the financial services provider's stock valued at $30,000 after buying an additional 6,683 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Siebert Financial during the second quarter worth about $34,000. Invesco Ltd. purchased a new position in Siebert Financial during the second quarter worth about $45,000. Wells Fargo & Company MN increased its position in shares of 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 valued at $56,000 after acquiring an additional 5,198 shares during the last quarter. Finally, Jane Street Group LLC increased its position in shares of Siebert Financial by 60.5% during the fourth quarter. Jane Street Group LLC now owns 16,373 shares of the financial services provider's stock valued at $57,000 after acquiring an additional 6,173 shares during the last quarter. 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.

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