Brand Engagement Network (NASDAQ:BNAI) Downgraded to "Sell" Rating by Wall Street Zen

Key Points

• Brand Engagement Network (NASDAQ:BNAI) was downgraded by Wall Street Zen from hold to sell, and Weiss Ratings also reiterated a sell (e+) rating. The stock’s overall consensus rating remains Sell.
• The company’s shares opened at $11.16, giving it a market cap of about $65.4 million, with a 1-year range of $1.18 to $86.28. Its stock has also been trading below both its 50-day and 200-day moving averages.
• Brand Engagement Network recently reported a smaller-than-expected loss of ($0.51) per share, but revenue came in well below estimates at $0.10 million. The company continues to post very weak profitability metrics, including a deeply negative net margin and return on equity.

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

Separately, Weiss Ratings restated a "sell (e+)" rating on shares of Brand Engagement Network in a research note on Friday, July 17th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has a consensus rating of "Sell".

Brand Engagement Network Price Performance

Shares of NASDAQ:BNAI opened at $11.16 on Friday. The firm has a market capitalization of $65.40 million, a PE ratio of -6.17 and a beta of 0.38. Brand Engagement Network has a 1 year low of $1.18 and a 1 year high of $86.28. The firm's 50-day moving average is $16.75 and its two-hundred day moving average is $25.05.

Brand Engagement Network (NASDAQ:BNAI - Get Free Report) last announced its quarterly earnings data on Friday, May 15th. The company reported ($0.51) earnings per share for the quarter, beating analysts' consensus estimates of ($1.20) by $0.69. Brand Engagement Network had a negative net margin of 2,189.33% and a negative return on equity of 235.73%. The firm had revenue of $0.10 million during the quarter, compared to analysts' expectations of $0.30 million.

Institutional Investors Weigh In On Brand Engagement Network

Several institutional investors have recently added to or reduced their stakes in the business. XTX Topco Ltd increased 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 purchasing an additional 48,951 shares during the last quarter. Barclays PLC purchased a new stake in shares of Brand Engagement Network during the 4th quarter worth approximately $33,000. Finally, Themes Management Co LLC acquired a new position in shares of Brand Engagement Network in the 1st quarter valued at $2,105,000. Hedge funds and other institutional investors own 15.80% of the company's stock.

About Brand Engagement Network

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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