Short Interest in BYND Cannasoft Enterprises Inc. (NASDAQ:BCAN) Decreases By 36.5%

Posted by Trevor Kearing on Aug 15th, 2024

BYND Cannasoft Enterprises Inc. (NASDAQ:BCAN – Get Free Report) saw a large decline in short interest during the month of July. As of July 31st, there was short interest totalling 298,100 shares, a decline of 36.5% from the July 15th total of 469,200 shares. Based on an average daily volume of 1,170,000 shares, the short-interest ratio is presently 0.3 days. Currently, 4.6% of the shares of the company are sold short.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in BYND Cannasoft Enterprises stock. Mirae Asset Global Investments Co. Ltd. boosted its stake in BYND Cannasoft Enterprises Inc. (NASDAQ:BCAN – Free Report) by 67.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,627,332 shares of the company’s stock after buying an additional 655,555 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in BYND Cannasoft Enterprises were worth $553,000 as of its most recent filing with the SEC.

BYND Cannasoft Enterprises Price Performance

BYND Cannasoft Enterprises stock opened at $0.52 on Thursday. The company’s 50-day moving average is $0.62 and its 200-day moving average is $8.36. BYND Cannasoft Enterprises has a fifty-two week low of $0.47 and a fifty-two week high of $266.00. The company has a debt-to-equity ratio of 0.01, a quick ratio of 10.83 and a current ratio of 10.83.

BYND Cannasoft Enterprises (NASDAQ:BCAN – Get Free Report) last announced its quarterly earnings results on Wednesday, May 15th. The company reported ($91.12) EPS for the quarter. The company had revenue of $0.42 million for the quarter.

About BYND Cannasoft Enterprises

(Get Free Report)

BYND Cannasoft Enterprises Inc, through its subsidiaries, develops, markets, and sells proprietary client relationship management software products in Israel. The company owns and markets Benefit CRM, a customer relationship management software product that enables small and medium-sized enterprises to optimize day-to-day functions, such as sales management, personnel management, marketing, call centre, and asset management activities; and develops New Cannabis CRM platform for the medical cannabis industry, as well as manages the construction, licensing, and operation of a cannabis farm and indoor cannabis growing facility.