Short Interest in SHF Holdings, Inc. (NASDAQ:SHFS) Rises By 1,299.9%

SHF Holdings, Inc. (NASDAQ:SHFS) was the recipient of a large increase in short interest in the month of June. As of June 15th, there was short interest totaling 1,821,847 shares, an increase of 1,299.9% from the May 31st total of 130,141 shares. Based on an average daily volume of 16,224,094 shares, the short-interest ratio is presently 0.1 days. Approximately 42.9% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of SHF in a report on Friday, April 24th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, SHF presently has an average rating of “Sell”.

Institutional Trading of SHF

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

SHF Trading Down 1.1%

Shares of SHFS traded down $0.00 during trading hours on Thursday, reaching $0.23. 822,507 shares of the company’s stock traded hands, compared to its average volume of 1,757,456. SHF has a 12 month low of $0.22 and a 12 month high of $9.19. The stock has a market cap of $1.06 million, a PE ratio of -0.24 and a beta of 0.71. The firm’s 50 day simple moving average is $0.52 and its 200-day simple moving average is $0.85.

SHF (NASDAQ:SHFS) last posted its quarterly earnings data on Friday, May 15th. The company reported ($0.43) earnings per share for the quarter. The company had revenue of $1.98 million during the quarter. SHF had a negative return on equity of 561.02% and a negative net margin of 40.35%.

About SHF

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.