Brand Engagement Network (NASDAQ:BNAI) Announces Quarterly Earnings Results

Brand Engagement Network (NASDAQ:BNAI) released its quarterly earnings results on Friday. The company reported ($0.51) earnings per share for the quarter, beating the consensus estimate of ($1.20) by $0.69, FiscalAI reports. The firm had revenue of $0.10 million for the quarter, compared to analysts’ expectations of $0.30 million. Brand Engagement Network had a negative net margin of 3,137.73% and a negative return on equity of 308.17%.

Brand Engagement Network Stock Down 3.5%

Shares of BNAI traded down $0.82 during mid-day trading on Friday, hitting $22.34. 172,856 shares of the company’s stock were exchanged, compared to its average volume of 4,621,456. Brand Engagement Network has a 52 week low of $1.18 and a 52 week high of $86.28. The stock’s 50-day simple moving average is $36.82 and its 200-day simple moving average is $20.30. The firm has a market cap of $130.91 million, a price-to-earnings ratio of -3.44 and a beta of 0.59.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Brand Engagement Network stock. XTX Topco Ltd lifted its holdings in shares of Brand Engagement Network Inc. (NASDAQ:BNAI) by 197.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 73,684 shares of the company’s stock after purchasing an additional 48,951 shares during the quarter. XTX Topco Ltd owned 0.17% of Brand Engagement Network worth $32,000 as of its most recent SEC filing. Institutional investors and hedge funds own 15.80% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Brand Engagement Network in a report on Monday, April 20th. Wall Street Zen raised shares of Brand Engagement Network from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Sell”.

Brand Engagement Network Company Profile

Brand Engagement Network, Inc provides conversational AI assistants. The company offers security-focused, multimodal communication, and human-like assistants. Its AI assistants are built on proprietary natural language processing, anomaly detection, multisensory awareness, sentiment, and environmental analysis, as well as real-time individuation and personalization capabilities. It serves the automotive, healthcare, and other industries through direct sales force and channel partners. Brand Engagement Network, Inc was formerly known as Blockchain Exchange Network Inc and changed its name to Brand Engagement Network, Inc in April 2023.