Beneficient (NASDAQ:BENF) Shares Up 8.4% – What’s Next?

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

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Beneficient in a research report on Wednesday, June 24th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has a consensus rating of “Sell”.

Beneficient Trading Up 8.4%

The firm has a market cap of $33.83 million, a P/E ratio of -0.33 and a beta of -0.04. The stock’s fifty day moving average is $2.92 and its two-hundred day moving average is $3.36.

Beneficient (NASDAQ:BENF) last released its quarterly earnings results 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 the consensus estimate of $10.16 million. On average, analysts forecast that Beneficient will post -2.16 EPS for the current year.

Hedge Funds Weigh In On Beneficient

A hedge fund recently raised its stake in Beneficient stock. Geode Capital Management LLC boosted its holdings in Beneficient (NASDAQ:BENF) by 154.8% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 154,257 shares of the company’s stock after acquiring an additional 93,709 shares during the quarter. Geode Capital Management LLC owned 1.11% of Beneficient worth $1,084,000 at the end of the most recent reporting period. 90.57% of the stock is owned by institutional investors.

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.