Short Interest in Beneficient (NASDAQ:BENF) Decreases By 91.9%

Beneficient (NASDAQ:BENF) was the target of a large decline in short interest in the month of April. As of April 15th, there was short interest totalling 31,100 shares, a decline of 91.9% from the March 31st total of 384,100 shares. Approximately 2.9% of the shares of the company are short sold. Based on an average daily trading volume, of 118,600 shares, the days-to-cover ratio is currently 0.3 days.

Beneficient Stock Down 3.9 %

NASDAQ BENF traded down $0.18 during mid-day trading on Thursday, hitting $4.43. The stock had a trading volume of 26,748 shares, compared to its average volume of 96,871. Beneficient has a twelve month low of $3.76 and a twelve month high of $1,320.00. The firm’s 50 day moving average is $8.22 and its 200 day moving average is $30.72.

Beneficient (NASDAQ:BENF) last posted its quarterly earnings results on Tuesday, February 13th. The company reported ($156.00) earnings per share for the quarter. The company had revenue of ($10.24) million for the quarter.

Insider Activity

In other Beneficient news, Director Peter T. Cangany, Jr. purchased 2,500 shares of the stock in a transaction on Tuesday, February 20th. The shares were bought at an average price of $20.80 per share, for a total transaction of $52,000.00. Following the completion of the transaction, the director now owns 2,500 shares of the company’s stock, valued at approximately $52,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 8.36% of the company’s stock.

Hedge Funds Weigh In On Beneficient

An institutional investor recently bought a new position in Beneficient stock. Bank of New York Mellon Corp bought a new position in Beneficient (NASDAQ:BENF) in the third quarter, according to its most recent disclosure with the SEC. The firm bought 37,833 shares of the company’s stock, valued at approximately $98,000. 90.57% of the stock is owned by hedge funds and other institutional investors.

Beneficient Company Profile

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.