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

Key Points

• Wall Street Zen upgraded Brand Engagement Network from “sell” to “hold,” but Weiss Ratings maintained a “sell (e+)” rating; MarketBeat lists the stock’s average rating as “Sell.”
• BNAI shares opened at $14.42, with a market capitalization of about $108 million and a 12-month trading range of $1.18 to $86.28. The company reported a quarterly loss of $0.49 per share, better than the expected $0.80 loss, but revenue was just $0.06 million.
• Institutional investors own approximately 15.8% of the stock, with several firms recently initiating or expanding positions, including XTX Topco, Barclays, Themes Management, Bank of New York Mellon, and Deutsche Bank.

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

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

Brand Engagement Network Stock Down 5.4%

Shares of NASDAQ:BNAI opened at $14.42 on Friday. The business's 50 day moving average is $15.08 and its 200 day moving average is $24.59. Brand Engagement Network has a 12-month low of $1.18 and a 12-month high of $86.28. The stock has a market cap of $108.01 million, a price-to-earnings ratio of -9.01 and a beta of 0.44.

Brand Engagement Network (NASDAQ:BNAI - Get Free Report) last issued its quarterly earnings data on Friday, August 14th. The company reported ($0.49) earnings per share for the quarter, beating the consensus estimate of ($0.80) by $0.31. Brand Engagement Network had a negative return on equity of 145.56% and a negative net margin of 2,356.26%.The business had revenue of $0.06 million for the quarter, compared to analysts' expectations of $100.00 million.

Institutional Trading of Brand Engagement Network

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. XTX Topco Ltd grew its position in Brand Engagement Network by 197.9% during the second quarter. XTX Topco Ltd now owns 73,684 shares of the company's stock worth $32,000 after buying an additional 48,951 shares in the last quarter. Barclays PLC bought a new stake in shares of Brand Engagement Network during the 4th quarter valued at about $33,000. Themes Management Co LLC purchased a new position in shares of Brand Engagement Network during the first quarter worth about $2,105,000. Bank of New York Mellon Corp purchased a new position in shares of Brand Engagement Network during the second quarter worth about $203,000. Finally, Deutsche Bank AG purchased a new position in shares of Brand Engagement Network during the second quarter worth about $75,000. 15.80% of the stock is currently owned by institutional investors.

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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