Siebert Financial (NASDAQ:SIEB) Stock Crosses Below 200 Day Moving Average - Here's What Happened

Key Points

• Siebert Financial's stock dropped below its 200-day moving average, trading as low as $1.70 versus the 200-day average of $2.69 on Monday, with roughly 29,439 shares changing hands.
• Analyst sentiment is negative after Weiss Ratings downgraded the shares to a Sell, and MarketBeat reports a consensus rating of "Sell."
• The company has a small market cap (~$69.6M) and reported ($0.01) EPS on $23.56M in quarterly revenue, while institutional ownership remains low (~1.5%) despite some recent small purchases by firms like Jane Street and Wells Fargo.

Siebert Financial Corp. (NASDAQ:SIEB - Get Free Report)'s stock price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $2.69 and traded as low as $1.70. Siebert Financial shares last traded at $1.70, with a volume of 29,439 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded shares of 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, Based on data from MarketBeat.com, the company currently has a consensus rating of "Sell".

Siebert Financial Trading Down 4.0%

The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.05. The firm has a market cap of $69.60 million, a PE ratio of 13.08 and a beta of 0.90. The company's 50-day moving average is $1.91 and its 200 day moving average is $2.69.

Siebert Financial (NASDAQ:SIEB - Get Free Report) last released its earnings results on Monday, March 30th. The financial services provider reported ($0.01) earnings per share (EPS) for the quarter. Siebert Financial had a return on equity of 5.61% and a net margin of 5.44%.The company had revenue of $23.56 million during the quarter.

Institutional Investors Weigh In On Siebert Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Jane Street Group LLC lifted its position in Siebert Financial by 40.9% in the 1st quarter. Jane Street Group LLC now owns 16,443 shares of the financial services provider's stock worth $49,000 after buying an additional 4,775 shares in the last quarter. Wells Fargo & Company MN lifted its position in Siebert Financial by 48.9% in the 4th 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 in the last quarter. JPMorgan Chase & Co. lifted its position 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 worth $30,000 after buying an additional 6,683 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Siebert Financial in the 2nd quarter worth approximately $34,000. Finally, Invesco Ltd. purchased a new stake in Siebert Financial in the 2nd quarter worth approximately $45,000. Hedge funds and other institutional investors own 1.52% of the company's stock.

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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