Brand Engagement Network (NASDAQ:BNAI) Shares Up 1.3% – Here’s Why

Brand Engagement Network Inc. (NASDAQ:BNAI)’s stock price rose 1.3% on Wednesday . The stock traded as high as $0.40 and last traded at $0.3780. Approximately 877,460 shares traded hands during trading, a decline of 97% from the average daily volume of 25,789,450 shares. The stock had previously closed at $0.3730.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Brand Engagement Network in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, Brand Engagement Network currently has a consensus rating of “Sell”.

Brand Engagement Network Price Performance

The company’s fifty day moving average price is $0.42 and its 200-day moving average price is $0.36. The stock has a market cap of $16.96 million, a price-to-earnings ratio of -0.50 and a beta of 0.67.

Brand Engagement Network (NASDAQ:BNAI) last announced its quarterly earnings data on Friday, October 10th. The company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.07. The company had revenue of $0.01 million for the quarter.

Hedge Funds Weigh In On Brand Engagement Network

Several institutional investors and hedge funds have recently modified their holdings of BNAI. XTX Topco Ltd grew its stake in shares of Brand Engagement Network by 197.9% during the 2nd quarter. XTX Topco Ltd now owns 73,684 shares of the company’s stock worth $32,000 after purchasing an additional 48,951 shares during the period. Lee Kelleher Wealth Management purchased a new position in shares of Brand Engagement Network during the 1st quarter valued at approximately $52,000. Corps Capital Advisors LLC lifted its holdings in 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 purchasing an additional 127,286 shares in the last quarter. Finally, Lido Advisors LLC increased its stake in Brand Engagement Network by 404.3% during the 2nd quarter. Lido Advisors LLC now owns 932,924 shares of the company’s stock worth $410,000 after buying an additional 747,924 shares in the last quarter. Institutional investors and hedge funds own 15.80% of the company’s stock.

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.