Short Interest in Beneficient (NASDAQ:BENF) Expands By 19.4%

Beneficient (NASDAQ:BENF) was the target of a large growth in short interest in September. As of September 15th, there was short interest totalling 217,800 shares, a growth of 19.4% from the August 31st total of 182,400 shares. Currently, 6.6% of the company’s shares are sold short. Based on an average daily volume of 2,820,000 shares, the days-to-cover ratio is currently 0.1 days.

Beneficient Price Performance

Shares of BENF stock traded down $0.02 during trading hours on Monday, hitting $1.24. 36,959 shares of the company’s stock traded hands, compared to its average volume of 1,281,279. The stock’s fifty day simple moving average is $2.12 and its two-hundred day simple moving average is $3.44. Beneficient has a 12-month low of $1.11 and a 12-month high of $213.60.

Beneficient (NASDAQ:BENF) last posted its quarterly earnings data on Wednesday, August 14th. The company reported $0.17 earnings per share for the quarter. The company had revenue of $10.05 million for the quarter. Equities research analysts forecast that Beneficient will post -1.72 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Peter T. Cangany, Jr. acquired 30,000 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were acquired at an average cost of $1.97 per share, with a total value of $59,100.00. Following the transaction, the director now owns 125,000 shares in the company, valued at approximately $246,250. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Peter T. Cangany, Jr. acquired 30,000 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was acquired at an average price of $1.97 per share, for a total transaction of $59,100.00. Following the completion of the acquisition, the director now owns 125,000 shares in the company, valued at $246,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Gwg Wind Down Trust sold 106,703 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $1.75, for a total transaction of $186,730.25. Following the sale, the insider now owns 536,475 shares in the company, valued at approximately $938,831.25. The disclosure for this sale can be found here. In the last ninety days, insiders sold 665,625 shares of company stock worth $1,778,328. 7.10% of the stock is currently owned by corporate insiders.

Beneficient Company Profile

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.