Beneficient (NASDAQ:BENF) Announces Earnings Results

Beneficient (NASDAQ:BENF) announced its earnings results on Friday. The company reported ($0.47) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.06) by $1.59, FiscalAI reports. The company had revenue of $15.93 million for the quarter, compared to the consensus estimate of $10.16 million.

Beneficient Stock Down 2.8%

Shares of NASDAQ BENF traded down $0.07 during trading hours on Friday, hitting $2.40. 94,790 shares of the stock were exchanged, compared to its average volume of 289,419. The company has a market cap of $34.85 million and a PE ratio of -0.04. The firm has a fifty day moving average price of $3.32 and a 200-day moving average price of $3.60. Beneficient has a 12 month low of $2.16 and a 12 month high of $12.48.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Beneficient

A hedge fund recently raised its position in Beneficient stock. Geode Capital Management LLC grew its position in Beneficient (NASDAQ:BENF) by 154.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 154,257 shares of the company’s stock after purchasing an additional 93,709 shares during the quarter. Geode Capital Management LLC owned about 1.11% of Beneficient worth $1,084,000 at the end of the most recent reporting period. 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.