Beneficient (NASDAQ:BENF) Shares Up 8.4% – Here’s Why

Shares of Beneficient (NASDAQ:BENF) rose 8.4% on Friday . The stock traded as high as $2.35 and last traded at $2.33. Approximately 19,939 shares changed hands during mid-day trading, an increase of 17% from the average daily volume of 17,033 shares. The stock had previously closed at $2.15.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Beneficient in a research note on Wednesday, June 24th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has an average rating of “Sell”.

Beneficient Stock Performance

The company has a fifty day simple moving average of $2.92 and a two-hundred day simple moving average of $3.36. The company has a market capitalization of $33.83 million, a price-to-earnings ratio of -0.33 and a beta of -0.04.

Beneficient (NASDAQ:BENF) last issued its quarterly earnings results on Friday, August 14th. The company reported ($0.47) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.06) by $1.59. The business had revenue of $15.93 million for the quarter, compared to analysts’ expectations of $10.16 million. As a group, analysts expect that Beneficient will post -2.16 EPS for the current year.

Hedge Funds Weigh In On Beneficient

A hedge fund recently bought a new position in Beneficient stock. Jane Street Group LLC purchased a new position in shares of Beneficient (NASDAQ:BENF) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 18,922 shares of the company’s stock, valued at approximately $133,000. Jane Street Group LLC owned 0.14% of Beneficient as of its most recent SEC filing. Hedge funds and other institutional investors own 90.57% of the company’s stock.

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. The company offers Ben 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.