Short Interest in Banzai International, Inc. (NASDAQ:BNZI) Drops By 90.2%

Banzai International, Inc. (NASDAQ:BNZI) was the recipient of a significant decline in short interest in May. As of May 15th, there was short interest totaling 141,739 shares, a decline of 90.2% from the April 30th total of 1,448,585 shares. Approximately 12.4% of the company’s stock are short sold. Based on an average trading volume of 308,386 shares, the days-to-cover ratio is currently 0.5 days.

Institutional Investors Weigh In On Banzai International

A hedge fund recently bought a new stake in Banzai International stock. Focus Partners Wealth purchased a new position in shares of Banzai International, Inc. (NASDAQ:BNZI) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 10,150 shares of the company’s stock, valued at approximately $30,000. Focus Partners Wealth owned 0.29% of Banzai International as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 96.82% of the company’s stock.

Banzai International Price Performance

BNZI traded up $0.32 during trading on Friday, reaching $3.78. 255,133 shares of the company’s stock were exchanged, compared to its average volume of 166,674. Banzai International has a 1 year low of $3.24 and a 1 year high of $208.00. The stock has a market capitalization of $5.51 million, a P/E ratio of -0.03 and a beta of -0.95. The company’s fifty day simple moving average is $10.94 and its 200-day simple moving average is $19.92.

Banzai International (NASDAQ:BNZI) last posted its quarterly earnings results on Friday, May 15th. The company reported ($11.69) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($5.00) by ($6.69). Banzai International had a negative return on equity of 391.73% and a negative net margin of 237.54%.The business had revenue of $2.70 million for the quarter, compared to analysts’ expectations of $2.90 million. Equities analysts forecast that Banzai International will post -17.4 EPS for the current year.

Analyst Upgrades and Downgrades

BNZI has been the subject of several recent research reports. Ascendiant Capital Markets lifted their price objective on Banzai International from $460.00 to $480.00 and gave the company a “buy” rating in a report on Tuesday, April 14th. Wall Street Zen downgraded Banzai International from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 16th. Finally, Weiss Ratings raised Banzai International from a “sell (e)” rating to a “sell (e+)” rating in a research report on Wednesday, April 29th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Banzai International currently has a consensus rating of “Hold” and an average target price of $480.00.

Banzai International Company Profile

Banzai International, Inc, a marketing technology company, provides data-driven marketing and sales solutions for various businesses in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. Its products include Demio, a browser-based webinar platform with data and marketing features designed to help businesses engage with their audience through live events and on-demand, interactive video content; Boost, a software-as-a-service (SaaS) solution for social sharing by event registrants; and Reach, a SaaS and managed service to increase registration and attendance of marketing events.