Short Interest in SHF Holdings, Inc. (NASDAQ:SHFS) Drops By 60.0%

SHF Holdings, Inc. (NASDAQ:SHFS) saw a significant decline in short interest in the month of July. As of July 31st, there was short interest totaling 68,435 shares, a decline of 60.0% from the July 15th total of 171,172 shares. Based on an average daily trading volume, of 257,791 shares, the days-to-cover ratio is currently 0.3 days. Currently, 1.1% of the company’s shares are short sold.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of SHF in a research report on Tuesday, July 21st. One research analyst has rated the stock with a Sell rating, According to MarketBeat, SHF presently has an average rating of “Sell”.

Institutional Investors Weigh In On SHF

A hedge fund recently bought a new position in SHF stock. Checchi Capital Advisers LLC purchased a new stake in shares of SHF Holdings, Inc. (NASDAQ:SHFS) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 31,741 shares of the company’s stock, valued at approximately $34,000. Checchi Capital Advisers LLC owned 1.03% of SHF at the end of the most recent reporting period. 29.19% of the stock is currently owned by institutional investors.

SHF Stock Down 1.0%

Shares of SHFS traded down $0.00 during mid-day trading on Friday, hitting $0.17. 150,792 shares of the company’s stock traded hands, compared to its average volume of 324,717. The firm has a market capitalization of $1.11 million, a P/E ratio of -0.17 and a beta of 0.81. The business’s 50-day moving average price is $0.22 and its 200-day moving average price is $0.59. SHF has a 1 year low of $0.17 and a 1 year high of $9.19.

SHF (NASDAQ:SHFS) last announced its quarterly earnings results on Friday, August 7th. The company reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of $1.00 by ($1.36). The business had revenue of $1.93 million during the quarter, compared to analysts’ expectations of $2.83 billion. SHF had a negative return on equity of 90.25% and a negative net margin of 47.33%.

SHF Company Profile

SHF Holdings, Inc, through its subsidiaries, provides access to banking, lending, and other financial services to financial institutions serving the cannabis industry. The company, through its proprietary platform, offers access to business checking and savings accounts, cash management accounts, savings and investment options, commercial lending, courier services, remote deposit services, automated clearing house payments and origination, and wire payments. Its services allow cannabis related businesses to obtain services from financial institutions that allow them to run their business with enhanced financial insight into their business and access to resources.