Brand Engagement Network (NASDAQ:BNAI) Stock Price Down 6.1% – Time to Sell?

Brand Engagement Network Inc. (NASDAQ:BNAI) shares fell 6.1% during trading on Thursday . The stock traded as low as $13.60 and last traded at $14.24. 222,514 shares traded hands during trading, a decline of 32% from the average session volume of 328,023 shares. The stock had previously closed at $15.16.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Brand Engagement Network in a research report on Monday, April 20th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has an average rating of “Sell”.

Brand Engagement Network Stock Performance

The company has a market capitalization of $83.45 million, a price-to-earnings ratio of -7.87 and a beta of 0.38. The firm has a fifty day moving average price of $19.39 and a 200-day moving average price of $24.43.

Brand Engagement Network (NASDAQ:BNAI) last posted its quarterly earnings results on Friday, May 15th. The company reported ($0.51) EPS for the quarter, beating analysts’ consensus estimates of ($1.20) by $0.69. The business had revenue of $0.10 million during the quarter, compared to the consensus estimate of $0.30 million. Brand Engagement Network had a negative return on equity of 235.73% and a negative net margin of 2,189.33%.

Hedge Funds Weigh In On Brand Engagement Network

Several hedge funds have recently bought and sold shares of BNAI. Barclays PLC bought a new stake in shares of Brand Engagement Network during the 4th quarter worth approximately $33,000. XTX Topco Ltd boosted its position 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. Finally, Themes Management Co LLC bought a new position in Brand Engagement Network in the first quarter valued at approximately $2,105,000. 15.80% of the stock is owned by institutional investors.

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.