Short Interest in SHF Holdings, Inc. (NASDAQ:SHFS) Drops By 92.1%

SHF Holdings, Inc. (NASDAQ:SHFS) was the target of a significant decline in short interest in the month of June. As of June 30th, there was short interest totaling 143,592 shares, a decline of 92.1% from the June 15th total of 1,821,847 shares. Based on an average daily trading volume, of 879,376 shares, the short-interest ratio is presently 0.2 days. Approximately 3.4% of the company’s shares are short sold.

SHF Stock Down 10.2%

Shares of NASDAQ SHFS traded down $0.02 during midday trading on Friday, reaching $0.21. 1,296,062 shares of the company’s stock traded hands, compared to its average volume of 1,759,111. The company has a market cap of $932,084.50, a price-to-earnings ratio of -0.22 and a beta of 0.79. The stock’s 50 day simple moving average is $0.38 and its 200-day simple moving average is $0.76. SHF has a one year low of $0.18 and a one year high of $9.19.

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

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

A hedge fund recently bought a new position in SHF stock. T3 Companies LLC purchased a new stake in SHF Holdings, Inc. (NASDAQ:SHFS) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 54,000 shares of the company’s stock, valued at approximately $57,000. T3 Companies LLC owned about 1.75% of SHF as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 29.19% of the company’s stock.

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.