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Why Has Beneficient’s (NASDAQ: BENF) Share Price Dropped So Much?

Beneficient (NASDAQ:BENF) price closed higher on Friday, September 15, jumping 14.62% above its previous close.

A look at the daily price movement shows that the last close reads $2.53, with intraday deals fluctuated between $2.23 and $3.0288. The company’s P/E ratio in the trailing 12-month period read 14.80. Taking into account the 52-week price action we note that the stock hit a 52-week high of $16.50 and 52-week low of $1.69. The stock added 46.46% on its value in the past month.

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Revisions to the company’s EPS highlights a short term direction of a stock’s price movement, which in the last 7 days came up with no upward and no downward reviews.

The overview shows that BENF’s price is at present 16.30% off the SMA20 and 21.96% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 56.19, with weekly volatility standing at 16.35%. The indicator jumps to 15.24% when calculated based on the past 30 days. Beneficient (NASDAQ:BENF)’s beta value is holding at -0.97, while the average true range (ATR) indicator is currently reading 0.38.

An analysis of the Beneficient (NASDAQ:BENF) stock in terms of its daily trading volume indicates that the 3-month average is 256.77K. However, this figure increases on the past 10-day timeline to an average of 0.44 million.

Current records show that the company has 259.11M in outstanding shares. The insiders’ percentage holdings are 74.17% of outstanding shares while the percentage share held by institutions stands at 91.70%. The stats also highlight that short interest as of Aug 30, 2023, stood at 58020.0 shares, which puts the short ratio at the time at 0.4. From this we can glean that short interest is 0.02% of company’s current outstanding shares. Notably, we see that shares short in August rose slightly given the previous month’s figure stood at 38080.0. But the -71.71% downside, the stock’s price has registered year-to-date as of last trading, will likely reignite investor interest given the prospect of it rallying even higher.