Brand Engagement Network Inc. (NASDAQ:BNAI) Short Interest Down 52.5% in January

Brand Engagement Network Inc. (NASDAQ:BNAI) saw a large drop in short interest in January. As of January 15th, there was short interest totaling 583,824 shares, a drop of 52.5% from the December 31st total of 1,230,242 shares. Currently, 17.5% of the company’s stock are sold short. Based on an average trading volume of 17,057,034 shares, the short-interest ratio is presently 0.0 days. Based on an average trading volume of 17,057,034 shares, the short-interest ratio is presently 0.0 days. Currently, 17.5% of the company’s stock are sold short.

Institutional Trading of Brand Engagement Network

A number of hedge funds have recently modified their holdings of BNAI. XTX Topco Ltd lifted its position 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 buying an additional 48,951 shares during the period. Corps Capital Advisors LLC grew its stake 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 valued at $98,000 after purchasing an additional 127,286 shares during the last quarter. Finally, Lido Advisors LLC increased its stake in shares of Brand Engagement Network by 404.3% in the 2nd quarter. Lido Advisors LLC now owns 932,924 shares of the company’s stock valued at $410,000 after buying an additional 747,924 shares during the period. Institutional investors own 15.80% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on BNAI. Wall Street Zen upgraded 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 report on Wednesday, January 21st. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has an average rating of “Sell”.

Brand Engagement Network Price Performance

Shares of BNAI traded down $27.88 during trading hours on Friday, reaching $24.75. 9,044,757 shares of the company’s stock traded hands, compared to its average volume of 16,808,582. Brand Engagement Network has a twelve month low of $1.18 and a twelve month high of $86.28. The business’s fifty day simple moving average is $8.45 and its two-hundred day simple moving average is $5.36. The firm has a market capitalization of $111.13 million, a price-to-earnings ratio of -3.81 and a beta of 0.71.

Brand Engagement Network (NASDAQ:BNAI) last announced its earnings results on Tuesday, November 25th. The company reported ($0.59) EPS for the quarter, topping the consensus estimate of ($1.40) by $0.81. The firm 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.