Brand Engagement Network (NASDAQ:BNAI) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Brand Engagement Network to “sell” from “hold,” while Weiss Ratings also maintained a “sell” assessment. MarketBeat reports an overall average rating of “Sell.”
• BNAI opened at $7.28, with a market capitalization of $54.53 million, far below its 52-week high of $86.28. Its 50-day and 200-day moving averages stood at $12.02 and $22.82, respectively.
• The company reported a quarterly loss of $0.49 per share, outperforming the consensus loss estimate of $0.80, but posted just $0.06 million in revenue and continued to report deeply negative profitability metrics.

Brand Engagement Network (NASDAQ:BNAI - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report issued on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings raised shares of Brand Engagement Network from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Thursday, September 10th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has an average rating of "Sell".

Brand Engagement Network Price Performance

BNAI opened at $7.28 on Friday. The company has a market capitalization of $54.53 million, a price-to-earnings ratio of -4.55 and a beta of 0.44. The firm's fifty day moving average price is $12.02 and its two-hundred day moving average price is $22.82. Brand Engagement Network has a 1 year low of $1.18 and a 1 year high of $86.28.

Brand Engagement Network (NASDAQ:BNAI - Get Free Report) last posted its earnings results on Friday, August 14th. The company reported ($0.49) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.80) by $0.31. Brand Engagement Network had a negative net margin of 2,356.26% and a negative return on equity of 145.56%. The firm had revenue of $0.06 million during the quarter, compared to analyst estimates of $100.00 million.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in BNAI. BlackRock Inc. purchased a new stake in Brand Engagement Network in the 2nd quarter worth about $5,673,000. Themes Management Co LLC purchased a new stake in Brand Engagement Network during the first quarter valued at about $2,105,000. Susquehanna International Group LLP lifted its holdings in Brand Engagement Network by 426.6% during the second quarter. Susquehanna International Group LLP now owns 37,472 shares of the company's stock valued at $641,000 after purchasing an additional 30,356 shares during the last quarter. Engineers Gate Manager LP bought a new position in Brand Engagement Network during the second quarter worth about $328,000. Finally, Bank of New York Mellon Corp bought a new position in Brand Engagement Network during the second quarter worth about $203,000. Hedge funds and other institutional investors own 15.80% of the company's stock.

About Brand Engagement Network

Brand Engagement Network, Inc NASDAQ: BNAI is an artificial intelligence technology company that develops conversational and engagement solutions for businesses and other organizations. Its platform is designed to enable natural, personalized interactions between companies and their customers through AI-powered digital assistants and branded virtual experiences.

The company's solutions are intended to support functions such as customer service, sales, product education, lead generation and employee or customer training.

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