Brand Engagement Network (NASDAQ:BNAI) Posts Quarterly Earnings Results, Beats Estimates By $0.69 EPS

Brand Engagement Network (NASDAQ:BNAI) posted its quarterly earnings data on Friday. The company reported ($0.51) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.20) by $0.69, FiscalAI reports. Brand Engagement Network had a negative net margin of 3,137.73% and a negative return on equity of 308.17%. The company had revenue of $0.10 million for the quarter, compared to the consensus estimate of $0.30 million.

Brand Engagement Network Trading Down 3.5%

NASDAQ BNAI traded down $0.82 on Friday, reaching $22.34. The company’s stock had a trading volume of 172,856 shares, compared to its average volume of 489,554. The firm has a market cap of $130.87 million, a PE ratio of -3.44 and a beta of 0.59. The business has a 50-day moving average price of $36.33 and a 200 day moving average price of $20.32. Brand Engagement Network has a 52 week low of $1.18 and a 52 week high of $86.28.

Institutional Trading of Brand Engagement Network

An institutional investor recently raised its position in Brand Engagement Network stock. XTX Topco Ltd boosted its holdings in Brand Engagement Network Inc. (NASDAQ:BNAI) by 197.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 73,684 shares of the company’s stock after acquiring an additional 48,951 shares during the quarter. XTX Topco Ltd owned 0.17% of Brand Engagement Network worth $32,000 at the end of the most recent quarter. 15.80% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

BNAI has been the topic of several research reports. Wall Street Zen upgraded shares of Brand Engagement Network from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. Weiss Ratings restated a “sell (e+)” rating on shares of Brand Engagement Network in a report on Monday, April 20th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Brand Engagement Network presently 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.