Short Interest in Beneficient (NASDAQ:BENF) Increases By 72.1%

Beneficient (NASDAQ:BENF) was the recipient of a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 2,530,000 shares, an increase of 72.1% from the February 29th total of 1,470,000 shares. Based on an average trading volume of 2,740,000 shares, the days-to-cover ratio is currently 0.9 days. Currently, 3.5% of the shares of the stock are sold short.

Insider Activity

In other news, Director Peter T. Cangany, Jr. acquired 200,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were bought at an average cost of $0.26 per share, with a total value of $52,000.00. Following the acquisition, the director now owns 200,000 shares in the company, valued at approximately $52,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 8.36% of the company’s stock.

Hedge Funds Weigh In On Beneficient

A number of hedge funds have recently made changes to their positions in the business. Citadel Advisors LLC bought a new position in shares of Beneficient in the second quarter worth about $35,000. Tower Research Capital LLC TRC bought a new position in shares of Beneficient in the second quarter worth about $55,000. State Street Corp bought a new position in shares of Beneficient in the second quarter worth about $83,000. Bank of New York Mellon Corp bought a new position in shares of Beneficient in the third quarter worth about $98,000. Finally, Charles Schwab Investment Management Inc. bought a new position in shares of Beneficient in the third quarter worth about $98,000. Institutional investors own 90.57% of the company’s stock.

Beneficient Stock Performance

NASDAQ BENF opened at $0.07 on Thursday. Beneficient has a twelve month low of $0.06 and a twelve month high of $16.50. The stock’s 50 day moving average is $0.21 and its 200 day moving average is $0.73.

Beneficient (NASDAQ:BENF) last posted its quarterly earnings data on Tuesday, February 13th. The company reported ($1.95) EPS for the quarter. The company had revenue of ($10.24) million during the quarter.

About Beneficient

Beneficient, a technology-enabled financial service company, provides liquidity solutions and related trust, custody and administrative services to participants in the alternative asset industry. The company operates through Ben Liquidity, Ben Custody, and Customer ExAlt Trusts segments. It offers AltAccess platform for secure, online, and end-to-end delivery of each of the Ben business unit products and services, including upload documents, and work through tasks and complete their transactions with standardized transaction agreements.