Brand Engagement Network Inc. (NASDAQ:BNAI) Sees Significant Decrease in Short Interest

Brand Engagement Network Inc. (NASDAQ:BNAI) saw a significant decline in short interest during the month of January. As of January 15th, there was short interest totaling 583,824 shares, a decline of 52.5% from the December 31st total of 1,230,242 shares. Based on an average daily trading volume, of 17,057,034 shares, the short-interest ratio is presently 0.0 days. Approximately 17.5% of the company’s stock are short sold. Approximately 17.5% of the company’s stock are short sold. Based on an average daily trading volume, of 17,057,034 shares, the short-interest ratio is presently 0.0 days.

Brand Engagement Network Stock Performance

NASDAQ BNAI opened at $52.63 on Friday. The stock has a 50-day simple moving average of $8.03 and a 200 day simple moving average of $5.21. Brand Engagement Network has a twelve month low of $1.18 and a twelve month high of $86.28. The stock has a market capitalization of $236.31 million, a PE ratio of -8.10 and a beta of 0.71.

Brand Engagement Network (NASDAQ:BNAI) last issued its quarterly earnings results on Tuesday, November 25th. The company reported ($0.59) EPS for the quarter, topping the consensus estimate of ($1.40) by $0.81. The business had revenue of $0.06 million during the quarter.

Analyst Ratings Changes

A number of research analysts recently weighed in on BNAI shares. Wall Street Zen raised Brand Engagement Network to a “sell” rating in a research note on Saturday, December 13th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Brand Engagement Network in a report on Wednesday, January 21st. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has an average rating of “Sell”.

Hedge Funds Weigh In On Brand Engagement Network

Several large investors have recently bought and sold shares of the stock. Lido Advisors LLC grew its position in Brand Engagement Network by 404.3% in the 2nd quarter. Lido Advisors LLC now owns 932,924 shares of the company’s stock worth $410,000 after purchasing an additional 747,924 shares during the last quarter. Corps Capital Advisors LLC raised its position in shares of Brand Engagement Network by 132.9% during the second quarter. Corps Capital Advisors LLC now owns 223,064 shares of the company’s stock valued at $98,000 after buying an additional 127,286 shares during the last quarter. Finally, XTX Topco Ltd lifted its stake in shares of Brand Engagement Network by 197.9% in the second quarter. XTX Topco Ltd now owns 73,684 shares of the company’s stock valued at $32,000 after buying an additional 48,951 shares during the period. 15.80% of the stock is currently owned by institutional investors and hedge funds.

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.