Brand Engagement Network (NASDAQ:BNAI) Shares Down 6.1% - Time to Sell?

Key Points

• Brand Engagement Network shares fell 6.1% on Thursday, with the stock trading as low as $13.60 and below its prior close of $15.16 amid lighter-than-usual volume.
• Analyst sentiment remains weak, as Weiss Ratings reaffirmed a “sell (e+)” rating and MarketBeat shows an average rating of “Sell.”
• The company’s latest results were mixed: it beat EPS expectations in its most recent quarter, but revenue came in below consensus and profitability metrics remained deeply negative.

Brand Engagement Network Inc. (NASDAQ:BNAI - Get Free Report) shares fell 6.1% on Thursday . The stock traded as low as $13.60 and last traded at $14.24. 222,514 shares traded hands during mid-day trading, a decline of 32% from the average daily volume of 328,023 shares. The stock had previously closed at $15.16.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Brand Engagement Network in a report on Monday, April 20th. 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 Stock Down 6.1%

The company has a market cap of $83.45 million, a P/E ratio of -7.87 and a beta of 0.38. The stock has a 50 day moving average price of $19.39 and a two-hundred day moving average price of $24.43.

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

Institutional Investors Weigh In On Brand Engagement Network

A number of institutional investors have recently modified their holdings of BNAI. XTX Topco Ltd grew its stake in shares of 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 acquiring an additional 48,951 shares in the last quarter. Barclays PLC acquired a new stake in Brand Engagement Network in the 4th quarter worth about $33,000. Finally, Themes Management Co LLC acquired a new stake in Brand Engagement Network in the 1st quarter worth about $2,105,000. Institutional investors own 15.80% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.