Brand Engagement Network (NASDAQ:BNAI) Cut to “Sell” at Wall Street Zen

Brand Engagement Network (NASDAQ:BNAI) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Brand Engagement Network in a research note on Friday, July 17th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has an average rating of “Sell”.

Brand Engagement Network Stock Performance

BNAI opened at $11.16 on Friday. Brand Engagement Network has a one year low of $1.18 and a one year high of $86.28. The stock has a market capitalization of $65.40 million, a P/E ratio of -6.17 and a beta of 0.38. The business’s 50-day simple moving average is $16.75 and its 200-day simple moving average is $25.05.

Brand Engagement Network (NASDAQ:BNAI) last announced its earnings results on Friday, May 15th. The company reported ($0.51) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.20) by $0.69. The firm had revenue of $0.10 million during the quarter, compared to analysts’ expectations 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 institutional investors have recently bought and sold shares of the company. Barclays PLC acquired a new position in Brand Engagement Network during the fourth quarter worth about $33,000. Themes Management Co LLC acquired a new stake in shares of Brand Engagement Network during the 1st quarter valued at approximately $2,105,000. Finally, 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. 15.80% of the stock is owned by institutional investors and hedge funds.

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.