Short Interest in Brand Engagement Network Inc. (NASDAQ:BNAI) Increases By 96.3%

Brand Engagement Network Inc. (NASDAQ:BNAI) saw a significant growth in short interest in the month of February. As of February 13th, there was short interest totaling 669,978 shares, a growth of 96.3% from the January 29th total of 341,348 shares. Based on an average daily volume of 2,652,830 shares, the days-to-cover ratio is currently 0.3 days. Approximately 20.1% of the company’s stock are short sold. Approximately 20.1% of the company’s stock are short sold. Based on an average daily volume of 2,652,830 shares, the days-to-cover ratio is currently 0.3 days.

Hedge Funds Weigh In On Brand Engagement Network

Hedge funds have recently modified their holdings of the company. Barclays PLC purchased a new position in shares of Brand Engagement Network in the 4th quarter worth approximately $33,000. Lido Advisors LLC lifted its holdings in Brand Engagement Network by 404.3% during the second quarter. Lido Advisors LLC now owns 932,924 shares of the company’s stock worth $410,000 after acquiring an additional 747,924 shares during the period. XTX Topco Ltd lifted its holdings in Brand Engagement Network by 197.9% during the second quarter. XTX Topco Ltd now owns 73,684 shares of the company’s stock worth $32,000 after acquiring an additional 48,951 shares during the period. Finally, Corps Capital Advisors LLC boosted its position in Brand Engagement Network by 132.9% in the second quarter. Corps Capital Advisors LLC now owns 223,064 shares of the company’s stock worth $98,000 after purchasing an additional 127,286 shares during the last quarter. Institutional investors own 15.80% of the company’s stock.

Brand Engagement Network Trading Up 36.1%

NASDAQ BNAI opened at $35.68 on Friday. The business has a fifty day simple moving average of $16.43 and a 200 day simple moving average of $8.06. Brand Engagement Network has a 12 month low of $1.18 and a 12 month high of $86.28. The firm has a market capitalization of $160.20 million, a P/E ratio of -5.49 and a beta of 1.01.

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

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on BNAI shares. Wall Street Zen raised shares of Brand Engagement Network from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Brand Engagement Network in a report on Wednesday, January 21st. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has a consensus rating of “Sell”.

About Brand Engagement Network

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.