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

Brand Engagement Network Inc. (NASDAQ:BNAI) was the target of a large growth in short interest in the month of December. As of December 31st, there was short interest totaling 1,230,242 shares, a growth of 856.0% from the December 15th total of 128,685 shares. Currently, 36.8% of the company’s shares are sold short. Based on an average daily trading volume, of 14,571,178 shares, the days-to-cover ratio is currently 0.1 days. Based on an average daily trading volume, of 14,571,178 shares, the days-to-cover ratio is currently 0.1 days. Currently, 36.8% of the company’s shares are sold short.

Brand Engagement Network Trading Down 7.8%

Shares of NASDAQ BNAI opened at $3.30 on Tuesday. Brand Engagement Network has a 12-month low of $1.18 and a 12-month high of $10.50. The company has a market cap of $14.82 million, a P/E ratio of -0.51 and a beta of 0.71. The stock has a fifty day moving average price of $3.12 and a 200 day moving average price of $3.49.

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

Institutional Trading of Brand Engagement Network

Several large investors have recently bought and sold shares of BNAI. XTX Topco Ltd boosted its stake in shares of Brand Engagement Network by 197.9% in 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 stake in Brand Engagement Network by 132.9% during the 2nd 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 during the period. Finally, Lido Advisors LLC lifted its holdings in 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 buying an additional 747,924 shares in the last quarter. Institutional investors and hedge funds own 15.80% of the company’s stock.

Analyst Ratings Changes

BNAI has been the subject of a number of research reports. Wall Street Zen raised Brand Engagement Network to a “sell” rating in a research report on Saturday, December 13th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Brand Engagement Network in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Brand Engagement Network currently has a consensus rating of “Sell”.

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.