Brand Engagement Network Inc. (NASDAQ:BNAI) Short Interest Update

Brand Engagement Network Inc. (NASDAQ:BNAI) was the target of a significant drop in short interest in the month of January. As of January 30th, there was short interest totaling 341,348 shares, a drop of 41.5% from the January 15th total of 583,824 shares. Based on an average daily volume of 16,991,548 shares, the days-to-cover ratio is presently 0.0 days. Approximately 10.2% of the shares of the stock are short sold. Approximately 10.2% of the shares of the stock are short sold. Based on an average daily volume of 16,991,548 shares, the days-to-cover ratio is presently 0.0 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Lido Advisors LLC grew its holdings in shares of Brand Engagement Network by 404.3% in the second quarter. Lido Advisors LLC now owns 932,924 shares of the company’s stock valued at $410,000 after purchasing an additional 747,924 shares during the period. Corps Capital Advisors LLC boosted its holdings in Brand Engagement Network by 132.9% in the 2nd 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 during the last quarter. Finally, XTX Topco Ltd grew its stake in shares of Brand Engagement Network by 197.9% in the 2nd 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. Institutional investors and hedge funds own 15.80% of the company’s stock.

Brand Engagement Network Price Performance

Shares of Brand Engagement Network stock opened at $21.42 on Friday. The stock’s 50 day simple moving average is $11.80 and its 200-day simple moving average is $6.53. The stock has a market cap of $96.18 million, a P/E ratio of -3.30 and a beta of 1.01. Brand Engagement Network has a 1-year low of $1.18 and a 1-year high of $86.28.

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

Analysts Set New Price Targets

BNAI has been the subject of several research analyst reports. Wall Street Zen upgraded 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 research note on Wednesday, January 21st. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Brand Engagement Network 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.