SHF Holdings, Inc. (NASDAQ:SHFS) Sees Large Increase in Short Interest

SHF Holdings, Inc. (NASDAQ:SHFS) saw a large increase in short interest in 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 trading volume, of 16,224,094 shares, the days-to-cover ratio is currently 0.1 days. Currently, 42.9% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of SHF in a research note on Friday, April 24th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, SHF currently has a consensus rating of “Sell”.

SHF Trading Down 1.1%

NASDAQ SHFS opened at $0.23 on Friday. The stock’s 50 day moving average is $0.52 and its 200 day moving average is $0.85. 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.

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

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in SHF stock. Checchi Capital Advisers LLC bought a new stake in SHF Holdings, Inc. (NASDAQ:SHFS) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 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 & Exchange Commission. Institutional investors and hedge funds own 29.19% of the company’s stock.

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.