SHF Holdings, Inc. (NASDAQ:SHFS) Short Interest Down 60.0% in July

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

Hedge Funds Weigh In On SHF

A hedge fund recently bought a new stake in SHF stock. Checchi Capital Advisers LLC acquired a new stake in shares of SHF Holdings, Inc. (NASDAQ:SHFS) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 31,741 shares of the company’s stock, valued at approximately $34,000. Checchi Capital Advisers LLC owned approximately 1.03% of SHF as of its most recent filing with the Securities and Exchange Commission. 29.19% of the stock is owned by institutional investors.

SHF Stock Down 1.8%

SHFS stock opened at $0.17 on Friday. The business has a 50 day moving average of $0.23 and a 200 day moving average of $0.60. The firm has a market cap of $1.12 million, a PE ratio of -0.17 and a beta of 0.81. SHF has a twelve month low of $0.17 and a twelve month high of $9.19.

SHF (NASDAQ:SHFS) last released its earnings results on Friday, August 7th. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of $1.00 by ($1.36). SHF had a negative return on equity of 86.50% and a negative net margin of 47.33%.The company had revenue of $1.93 million during the quarter, compared to the consensus estimate of $2.83 billion.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of SHF in a research note on Tuesday, July 21st. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

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.