Brand Engagement Network (NASDAQ:BNAI) Releases Quarterly Earnings Results, Beats Estimates By $0.31 EPS

Key Points

• Brand Engagement Network beat earnings expectations, reporting a quarterly loss of $0.49 per share versus the consensus estimate of a $0.80 loss. Revenue was $0.06 million, below the $0.10 million analyst estimate.
• The stock fell 1.5% to $15.90 during Friday trading. The company reported a negative net margin of 2,189.33% and negative return on equity of 235.73%.
• Analyst sentiment remains bearish: the stock has an average “Sell” rating, while Barclays recently acquired 14,041 shares; institutional investors collectively own 15.8% of the company.

Brand Engagement Network (NASDAQ:BNAI - Get Free Report) announced its earnings results on Friday. The company reported ($0.49) earnings per share for the quarter, beating analysts' consensus estimates of ($0.80) by $0.31, FiscalAI reports. Brand Engagement Network had a negative net margin of 2,189.33% and a negative return on equity of 235.73%. The business had revenue of $0.06 million for the quarter, compared to the consensus estimate of $0.10 million.

Brand Engagement Network Trading Down 1.5%

BNAI stock traded down $0.25 during midday trading on Friday, hitting $15.90. The company had a trading volume of 98,465 shares, compared to its average volume of 2,952,260. Brand Engagement Network has a 52 week low of $1.18 and a 52 week high of $86.28. The stock has a market cap of $93.17 million, a price-to-earnings ratio of -8.78 and a beta of 0.44. The stock's 50 day moving average price is $15.66 and its 200 day moving average price is $25.90.

Analyst Ratings Changes

A number of equities analysts have recently commented on BNAI shares. Weiss Ratings restated a "sell (e+)" rating on shares of Brand Engagement Network in a research report on Friday, July 17th. Wall Street Zen lowered shares of Brand Engagement Network from a "hold" rating to a "sell" rating in a research report on Saturday, July 25th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has an average rating of "Sell".

Hedge Funds Weigh In On Brand Engagement Network

An institutional investor recently bought a new position in Brand Engagement Network stock. Barclays PLC bought a new position in shares of Brand Engagement Network Inc. (NASDAQ:BNAI - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 14,041 shares of the company's stock, valued at approximately $33,000. Barclays PLC owned 0.31% of Brand Engagement Network at the end of the most recent quarter. 15.80% of the stock is currently owned by hedge funds and other institutional investors.

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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