Siebert Financial Corp. (NASDAQ:SIEB) Sees Significant Drop in Short Interest

Siebert Financial Corp. (NASDAQ:SIEB) experienced a notable reduction in short interest throughout December. As of December 15th, the total short interest amounted to 94,300 shares, reflecting a 27.2% decrease from the previous month's total of 129,500 shares. Currently, around 0.7% of the company's shares are being short sold. With an average daily trading volume of 35,900 shares, the days-to-cover ratio stands at 2.6 days.

Recent Changes in Institutional Holdings

In addition to the short interest changes, an institutional investor has recently increased its stake in Siebert Financial. According to a 13F filing with the Securities and Exchange Commission, Geode Capital Management LLC raised its holdings by 70.4% in the third quarter. The firm now owns 206,788 shares of Siebert Financial after acquiring an additional 85,456 shares during this period. As of the end of the last quarter, Geode Capital Management LLC's stake in Siebert Financial was valued at approximately $523,000, representing about 0.52% of the company. Overall, institutional investors and hedge funds hold about 1.52% of Siebert Financial's stock.

Current Stock Performance

On Friday, NASDAQ:SIEB saw a slight decline of 1.0%, trading at $3.04. The trading volume for the day reached 20,040 shares against an average volume of 24,295 shares. The company maintains a debt-to-equity ratio of 0.05, with both current and quick ratios at 1.13. Siebert Financial has a market capitalization of $121.97 million, a P/E ratio of 11.69, and a beta of 0.33. Its 50-day moving average is priced at $2.81, while the 200-day moving average is at $2.20. The stock has seen a low of $1.41 and a high of $3.31 over the past year.

Analyst Ratings Update

In related news, StockNews.com has initiated coverage of Siebert Financial with a "hold" rating on the stock, providing a current perspective on its investment outlook.

Company Overview

Siebert Financial Corp. operates through its subsidiaries in the retail brokerage and investment advisory sectors both in the United States and internationally. The company offers various services, including self-directed trading, market making, financial advisory, and wealth management, along with independent retail execution services.

For those considering investing in Siebert Financial, it is important to explore other investment opportunities as well. While analysts have rated Siebert Financial as a "hold," there are stocks recommended by top analysts that may present better prospects.

Siebert, Short, Investments