SHF Holdings, Inc. (NASDAQ:SHFS) Stock Short Interest Rises 1,940.4%

by · The Cerbat Gem

SHF Holdings, Inc. (NASDAQ:SHFS – Get Free Report) was the recipient of a large increase in short interest during the month of October. As of October 15th, there was short interest totaling 771,674 shares, an increase of 1,940.4% from the September 30th total of 37,819 shares. Currently, 152.2% of the company’s shares are sold short. Based on an average trading volume of 4,833,259 shares, the days-to-cover ratio is presently 0.2 days.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of SHF in a research report on Monday, October 19th. One analyst has rated the stock with a Sell rating. According to MarketBeat.com, SHF presently has an average rating of “Sell”.

View Our Latest Research Report on SHFS

SHF Stock Performance

Shares of NASDAQ SHFS traded down $0.04 during midday trading on Monday, reaching $0.09. 101,215,948 shares of the stock were exchanged, compared to its average volume of 103,182,824. SHF has a 52-week low of $0.07 and a 52-week high of $42.28. The stock has a 50 day moving average price of $1.40 and a 200-day moving average price of $6.15.

SHF (NASDAQ:SHFS – Get Free Report) last issued its earnings results on Friday, August 7th. The company reported ($0.36) earnings per share for the quarter, missing the consensus estimate of $12.00 by ($12.36). SHF had a negative return on equity of 90.25% and a negative net margin of 47.33%. The firm had revenue of $1.93 million during the quarter, compared to analysts’ expectations of $2.83 billion.

About SHF

(Get Free Report)

SHF Holdings, Inc, doing business as Safe Harbor Financial, provides financial services to cannabis-related businesses in the United States. The company specializes in serving an industry that faces challenges accessing traditional banking services because cannabis remains federally illegal, despite state-level legalization in many jurisdictions.

Safe Harbor Financial supports cannabis businesses through banking and financial solutions offered in cooperation with financial institutions, including deposit services, cash management, payment processing and lending-related programs.

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