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

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

Insiders Place Their Bets

In other news, Director Peter T. Cangany, Jr. acquired 2,500 shares of Beneficient stock in a transaction on Tuesday, February 20th. The stock was acquired at an average cost of $20.80 per share, with a total value of $52,000.00. Following 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 filing with the Securities & Exchange Commission, which is available through the SEC website. 8.36% of the stock is currently owned by insiders.

Institutional Trading of 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) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 37,833 shares of the company’s stock, valued at approximately $98,000. 90.57% of the stock is owned by institutional investors and hedge funds.

Beneficient Stock Down 5.0 %

Shares of Beneficient stock traded down $0.22 on Friday, reaching $4.21. 40,462 shares of the company traded hands, compared to its average volume of 96,027. Beneficient has a 52 week low of $3.76 and a 52 week high of $1,320.00. The company has a 50 day moving average of $7.90 and a 200 day moving average of $30.53.

Beneficient (NASDAQ:BENF) last released its quarterly earnings data 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.

About Beneficient

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.