Beneficient (NASDAQ:BENF) Sees Significant Increase in Short Interest

Beneficient (NASDAQ:BENF) was the recipient of a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 134,700 shares, an increase of 24.8% from the October 15th total of 107,900 shares. Based on an average daily trading volume, of 3,820,000 shares, the days-to-cover ratio is currently 0.0 days. Approximately 3.8% of the shares of the stock are sold short.

Insiders Place Their Bets

In other news, major shareholder Gwg Wind Down Trust sold 188,292 shares of Beneficient stock in a transaction on Friday, October 4th. The shares were sold at an average price of $1.79, for a total transaction of $337,042.68. Following the transaction, the insider now owns 348,183 shares in the company, valued at approximately $623,247.57. The trade was a 35.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Peter T. Cangany, Jr. purchased 30,000 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were acquired at an average price of $1.97 per share, for a total transaction of $59,100.00. Following the acquisition, the director now owns 125,000 shares of the company’s stock, valued at $246,250. This trade represents a 31.58 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 796,387 shares of company stock valued at $1,977,919. 13.69% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Beneficient

A hedge fund recently raised its stake in Beneficient stock. Stifel Financial Corp boosted its position in Beneficient (NASDAQ:BENF) by 138.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,300 shares of the company’s stock after buying an additional 14,100 shares during the period. Stifel Financial Corp owned approximately 0.57% of Beneficient worth $30,000 at the end of the most recent quarter. Institutional investors and hedge funds own 90.57% of the company’s stock.

Beneficient Stock Performance

BENF stock opened at $1.20 on Friday. Beneficient has a 12-month low of $1.11 and a 12-month high of $51.14. The company’s fifty day simple moving average is $1.32 and its 200 day simple moving average is $2.48.

Beneficient (NASDAQ:BENF) last released its earnings results on Wednesday, August 14th. The company reported $0.17 earnings per share (EPS) for the quarter. The firm had revenue of $10.05 million during the quarter. Sell-side analysts expect that Beneficient will post -1.72 EPS for the current fiscal year.

About Beneficient

Beneficient, a technology-enabled financial services company, provides liquidity solutions and related trustee, custody and trust administrative services to participants in the alternative asset industry in the United States. It operates through Ben Liquidity, Ben Custody, and Customer ExAlt Trusts segments.