Beneficient (NASDAQ:BENF) Stock Price Down 7.5%

Beneficient (NASDAQ:BENF)’s share price dropped 7.5% on Friday . The stock traded as low as $4.17 and last traded at $4.21. Approximately 19,867 shares changed hands during trading, a decline of 79% from the average daily volume of 96,049 shares. The stock had previously closed at $4.55.

Beneficient Trading Down 13.8 %

The firm’s fifty day moving average is $9.33 and its two-hundred day moving average is $33.26.

Beneficient (NASDAQ:BENF) last released its quarterly earnings results on Tuesday, February 13th. The company reported ($156.00) earnings per share for the quarter. The company had revenue of ($10.24) million for the quarter.

Insider Buying and Selling

In related news, Director Peter T. Cangany, Jr. bought 2,500 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were purchased at an average cost of $20.80 per share, for a total transaction of $52,000.00. Following the completion of the purchase, the director now directly owns 2,500 shares in the company, valued at $52,000. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 8.36% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BENF. State Street Corp purchased a new position in Beneficient in the second quarter valued at about $83,000. Tower Research Capital LLC TRC bought a new stake in shares of Beneficient in the second quarter valued at approximately $55,000. Citadel Advisors LLC bought a new stake in shares of Beneficient in the second quarter valued at approximately $35,000. Newbridge Financial Services Group Inc. bought a new stake in shares of Beneficient in the third quarter valued at approximately $249,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Beneficient in the third quarter valued at approximately $98,000. 90.57% of the stock is currently owned by hedge funds and other institutional investors.

About Beneficient

Beneficient, a technology-enabled financial service company, provides liquidity solutions and related trust, custody and administrative services to participants in the alternative asset industry. The company operates through Ben Liquidity, Ben Custody, and Customer ExAlt Trusts segments. It offers 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.