Siebert Financial Corp. Sees 27.2% Drop in Short Interest in December

Siebert Financial Corp. (NASDAQ:SIEB - Get Free Report) experienced a significant reduction in short interest during December. As of December 15th, the total short interest was 94,300 shares, reflecting a decrease of 27.2% compared to the 129,500 shares reported on November 30th. Currently, short sales account for approximately 0.7% of the company's shares. Given the average daily trading volume of 35,900 shares, the days-to-cover ratio sits at 2.6 days.

Siebert Financial is gaining attention from institutional investors. Recently, Geode Capital Management LLC increased its stake in Siebert Financial Corp. (NASDAQ:SIEB - Get Free Report) by 70.4% during the third quarter, as per their latest 13F filing with the Securities and Exchange Commission. The firm now holds 206,788 shares, having added 85,456 shares in that quarter. By the end of the most recent quarter, their holdings in Siebert Financial were valued at approximately $523,000, which constitutes around 0.52% of the company’s stock. In total, institutional investors and hedge funds account for 1.52% of Siebert Financial's shares.

Recent Stock Performance

On Friday, shares of Siebert Financial (NASDAQ:SIEB) traded down by 1.0%, reaching $3.04 during midday trading. The trading volume for the stock stood at 20,040 shares, lower than the average volume of 24,295 shares. The company boasts a debt-to-equity ratio of 0.05, with both a current and a quick ratio at 1.13. Siebert Financial has a market capitalization of approximately $121.97 million, a price-to-earnings (P/E) ratio of 11.69, and a beta of 0.33. The stock's 50-day moving average is $2.81, while its 200-day moving average is $2.20. Its shares have fluctuated between a 52-week low of $1.41 and a 52-week high of $3.31.

Analyst Ratings Update

In another development, StockNews.com has started coverage on Siebert Financial, issuing a "hold" rating for the stock.

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's services include self-directed trading, market making, fixed income investments, stock lending, equity compensation plans, wealth management, and financial advisory services. They also provide independent retail execution services and customer support for retail clients.

Siebert, Financial, Stocks