Brand Engagement Network (NASDAQ:BNAI) Stock Price Up 35.7% – Should You Buy?

Brand Engagement Network Inc. (NASDAQ:BNAI) rose 35.7% on Friday . The stock traded as high as $30.90 and last traded at $22.17. Approximately 9,295,810 shares changed hands during trading, an increase of 3,084% from the average daily volume of 291,941 shares. The stock had previously closed at $16.34.

Wall Street Analysts Forecast Growth

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

Brand Engagement Network Stock Up 35.7%

The company has a market cap of $129.92 million, a price-to-earnings ratio of -12.25 and a beta of 0.38. The firm has a 50-day simple moving average of $29.27 and a 200 day simple moving average of $21.71.

Brand Engagement Network (NASDAQ:BNAI) last released its quarterly earnings results on Friday, May 15th. The company reported ($0.51) EPS for the quarter, topping the consensus estimate of ($1.20) by $0.69. The company had revenue of $0.10 million for the quarter, compared to analyst estimates 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%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in BNAI. XTX Topco Ltd increased its position in Brand Engagement Network by 197.9% during the second quarter. XTX Topco Ltd now owns 73,684 shares of the company’s stock worth $32,000 after buying an additional 48,951 shares during the period. Barclays PLC acquired a new position in Brand Engagement Network during the fourth quarter worth approximately $33,000. Finally, Themes Management Co LLC acquired a new position in Brand Engagement Network during the first quarter worth approximately $2,105,000. Institutional investors and hedge funds own 15.80% of the company’s stock.

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.