Beneficient (NASDAQ:BENF) Trading 8.4% Higher – Here’s Why

Beneficient (NASDAQ:BENF)’s stock price was up 8.4% during mid-day trading on Friday . The company traded as high as $2.35 and last traded at $2.33. 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 Analysts Forecast Growth

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

Beneficient Stock Up 8.4%

The stock has a 50-day simple moving average of $2.92 and a 200-day simple moving average of $3.36. The firm has a market capitalization of $33.83 million, a PE ratio of -0.33 and a beta of -0.04.

Beneficient (NASDAQ:BENF) last announced its quarterly earnings data on Friday, August 14th. The company reported ($0.47) earnings per share for the quarter, topping the consensus estimate of ($2.06) by $1.59. The firm had revenue of $15.93 million during the quarter, compared to analysts’ expectations of $10.16 million. Equities analysts forecast that Beneficient will post -2.16 earnings per share for the current fiscal year.

Institutional Trading of Beneficient

An institutional investor recently bought a new stake in Beneficient stock. Jane Street Group LLC purchased a new stake in shares of Beneficient (NASDAQ:BENF) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 18,922 shares of the company’s stock, valued at approximately $133,000. Jane Street Group LLC owned approximately 0.14% of Beneficient at the end of the most recent quarter. 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.