Short Interest in Beneficient (NASDAQ:BENF) Drops By 65.4%

Beneficient (NASDAQ:BENF) was the target of a large drop in short interest in the month of September. As of September 15th, there was short interest totaling 298,900 shares, a drop of 65.4% from the August 31st total of 862,800 shares. Based on an average daily volume of 3,420,000 shares, the days-to-cover ratio is presently 0.1 days. Currently, 4.2% of the shares of the stock are sold short. Currently, 4.2% of the shares of the stock are sold short. Based on an average daily volume of 3,420,000 shares, the days-to-cover ratio is presently 0.1 days.

Hedge Funds Weigh In On Beneficient

A hedge fund recently bought a new stake in Beneficient stock. Jane Street Group LLC acquired a new stake in shares of Beneficient (NASDAQ:BENF) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 52,307 shares of the company’s stock, valued at approximately $39,000. Jane Street Group LLC owned approximately 1.03% of Beneficient at the end of the most recent quarter. 90.57% of the stock is currently owned by institutional investors and hedge funds.

Beneficient Price Performance

Shares of NASDAQ BENF opened at $0.89 on Friday. Beneficient has a 1-year low of $0.22 and a 1-year high of $2.36. The stock’s 50-day moving average is $0.41 and its 200 day moving average is $0.35.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Beneficient in a research report on Saturday, September 27th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has a consensus rating of “Sell”.

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.