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

Key Points

• Short interest fell by 52.5% in January to 583,824 shares (about 17.5% of the stock sold short); with average daily volume of 17,057,034 shares the days-to-cover ratio is effectively 0.0 days.
• Market sentiment is negative: the stock has an average analyst rating of "Sell", with recent sell-type research from Wall Street Zen and Weiss Ratings.
• Financial snapshot: Brand Engagement Network reported Q results with EPS of –$0.59 (beating estimates of –$1.40) on just $0.06M revenue, has a market cap of ~$282.9M and a negative PE of –9.69, and a wide 12‑month price range of $1.18–$86.28.

Brand Engagement Network Inc. (NASDAQ:BNAI - Get Free Report) was the recipient of 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. Based on an average daily volume of 17,057,034 shares, the days-to-cover ratio is currently 0.0 days. Currently, 17.5% of the company's stock are sold short. Currently, 17.5% of the company's stock are sold short. Based on an average daily volume of 17,057,034 shares, the days-to-cover ratio is currently 0.0 days.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on BNAI shares. Wall Street Zen raised shares of Brand Engagement Network to a "sell" rating in a research report on Saturday, December 13th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Brand Engagement Network in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has an average rating of "Sell".

Institutional Trading of Brand Engagement Network

Institutional investors and hedge funds have recently made changes to their positions in the stock. Lido Advisors LLC lifted its holdings 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 worth $410,000 after purchasing an additional 747,924 shares during the last quarter. Corps Capital Advisors LLC lifted its stake in Brand Engagement Network by 132.9% in the second quarter. Corps Capital Advisors LLC now owns 223,064 shares of the company's stock valued at $98,000 after buying an additional 127,286 shares during the last quarter. Finally, XTX Topco Ltd lifted its stake in 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 buying an additional 48,951 shares during the last quarter. 15.80% of the stock is currently owned by institutional investors and hedge funds.

Brand Engagement Network Price Performance

Shares of BNAI opened at $63.00 on Thursday. The stock has a market capitalization of $282.87 million, a PE ratio of -9.69 and a beta of 0.71. The business's fifty day moving average price is $7.05 and its 200 day moving average price is $4.88. Brand Engagement Network has a 12-month low of $1.18 and a 12-month high of $86.28.

Brand Engagement Network (NASDAQ:BNAI - Get Free Report) last issued its earnings results on Tuesday, November 25th. The company reported ($0.59) earnings per share for the quarter, topping analysts' consensus estimates of ($1.40) by $0.81. The business 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.

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