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

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

Institutional Trading of Brand Engagement Network

Hedge funds and other institutional investors have recently made changes to their positions in the business. Corps Capital Advisors LLC boosted 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 worth $98,000 after buying an additional 127,286 shares in the last quarter. XTX Topco Ltd boosted 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 acquiring an additional 48,951 shares in the last quarter. Lido Advisors LLC grew its holdings in shares of 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 acquiring an additional 747,924 shares during the last quarter. Finally, Barclays PLC acquired a new position in shares of Brand Engagement Network in the 4th quarter worth $33,000. 15.80% of the stock is currently owned by institutional investors.

Brand Engagement Network Stock Up 36.1%

Shares of Brand Engagement Network stock 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 $8.10. Brand Engagement Network has a fifty-two week low of $1.18 and a fifty-two week high of $86.28. The firm has a market cap of $160.20 million, a price-to-earnings ratio of -5.49 and a beta of 1.01.

Wall Street Analyst Weigh In

Several analysts recently commented on BNAI shares. Weiss Ratings restated a “sell (e+)” rating on shares of Brand Engagement Network in a research report on Wednesday, January 21st. Wall Street Zen upgraded shares of Brand Engagement Network from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock 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.