SHF Holdings, Inc. (NASDAQ:SHFS) Sees Large Drop in Short Interest

SHF Holdings, Inc. (NASDAQ:SHFS) was the target of a significant decline in short interest in March. As of March 31st, there was short interest totaling 86,614 shares, a decline of 51.9% from the March 15th total of 180,015 shares. Based on an average trading volume of 68,849 shares, the short-interest ratio is currently 1.3 days. Currently, 3.2% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of SHF in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, SHF presently has a consensus rating of “Sell”.

SHF Stock Performance

SHFS stock traded up $0.03 during midday trading on Tuesday, reaching $0.78. 12,125 shares of the company traded hands, compared to its average volume of 52,296. SHF has a 52-week low of $0.71 and a 52-week high of $9.19. The business has a 50 day moving average of $0.87 and a 200-day moving average of $1.74. The firm has a market capitalization of $2.40 million, a price-to-earnings ratio of -0.63 and a beta of 0.92.

Institutional Investors Weigh In On SHF

A hedge fund recently bought a new stake in SHF stock. T3 Companies LLC acquired a new stake in shares of SHF Holdings, Inc. (NASDAQ:SHFS) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 54,000 shares of the company’s stock, valued at approximately $57,000. T3 Companies LLC owned 1.75% of SHF at the end of the most recent reporting period. 29.19% of the stock is owned by hedge funds and other institutional investors.

About SHF

SHF Holdings, Inc, through its subsidiaries, provides access to banking, lending, and other financial services to financial institutions serving the cannabis industry. The company, through its proprietary platform, offers access to business checking and savings accounts, cash management accounts, savings and investment options, commercial lending, courier services, remote deposit services, automated clearing house payments and origination, and wire payments. Its services allow cannabis related businesses to obtain services from financial institutions that allow them to run their business with enhanced financial insight into their business and access to resources.