Brand Engagement Network Inc. (NASDAQ:BNAI) Short Interest Down 92.5% in December

Brand Engagement Network Inc. (NASDAQ:BNAI) was the target of a significant decline in short interest in December. As of December 15th, there was short interest totaling 128,685 shares, a decline of 92.5% from the November 30th total of 1,715,039 shares. Based on an average trading volume of 186,885 shares, the short-interest ratio is currently 0.7 days. Currently, 3.9% of the shares of the stock are short sold. Currently, 3.9% of the shares of the stock are short sold. Based on an average trading volume of 186,885 shares, the short-interest ratio is currently 0.7 days.

Analyst Ratings Changes

A number of brokerages have issued reports on BNAI. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Brand Engagement Network in a report on Wednesday, October 8th. Wall Street Zen upgraded shares of Brand Engagement Network to a “sell” rating in a report on Saturday, December 13th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has an average rating of “Sell”.

Hedge Funds Weigh In On Brand Engagement Network

A number of large investors have recently bought and sold shares of the business. XTX Topco Ltd boosted its stake in shares of Brand Engagement Network by 197.9% during the second quarter. XTX Topco Ltd now owns 73,684 shares of the company’s stock valued at $32,000 after purchasing an additional 48,951 shares during the period. Corps Capital Advisors LLC increased its position in shares of 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 acquiring an additional 127,286 shares during the period. Finally, Lido Advisors LLC raised its stake in shares of Brand Engagement Network by 404.3% during the second quarter. Lido Advisors LLC now owns 932,924 shares of the company’s stock valued at $410,000 after acquiring an additional 747,924 shares in the last quarter. Hedge funds and other institutional investors own 15.80% of the company’s stock.

Brand Engagement Network Stock Down 2.9%

Brand Engagement Network stock traded down $0.04 during mid-day trading on Wednesday, reaching $1.35. 40,319 shares of the company’s stock traded hands, compared to its average volume of 691,577. Brand Engagement Network has a 12-month low of $1.32 and a 12-month high of $11.80. The stock has a 50 day moving average of $3.61 and a two-hundred day moving average of $3.56. The company has a market cap of $6.06 million, a price-to-earnings ratio of -0.21 and a beta of 0.67.

Brand Engagement Network (NASDAQ:BNAI) last issued its quarterly earnings data on Tuesday, November 25th. The company reported ($0.59) earnings per share for the quarter, topping the consensus estimate of ($1.40) by $0.81. The company had revenue of $0.06 million for the quarter.

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.