BlackRock Inc. Takes $5.67 Million Position in Brand Engagement Network Inc. $BNAI

Key Points

• BlackRock acquired 331,578 shares of Brand Engagement Network during the second quarter, worth approximately $5.67 million and representing about 5.66% of the company. Institutional investors collectively own 15.8% of BNAI.
• Analyst sentiment remains negative: Wall Street Zen upgraded the stock to “hold,” but Weiss Ratings maintained a “sell” rating, leaving BNAI with a consensus “Sell” rating.
• BNAI opened at $10.57, well below its 50-day and 200-day moving averages. Although quarterly EPS of negative $0.49 beat estimates, revenue was only $0.06 million and the company reported deeply negative margins.

BlackRock Inc. purchased a new stake in shares of Brand Engagement Network Inc. (NASDAQ:BNAI - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 331,578 shares of the company's stock, valued at approximately $5,673,000. BlackRock Inc. owned approximately 5.66% of Brand Engagement Network at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. XTX Topco Ltd raised its holdings in Brand Engagement Network by 197.9% during the 2nd 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 during the period. Barclays PLC bought a new position in shares of Brand Engagement Network in the fourth quarter worth $33,000. Deutsche Bank AG bought a new position in shares of Brand Engagement Network in the second quarter worth $75,000. Bank of New York Mellon Corp purchased a new position in shares of Brand Engagement Network in the second quarter valued at $203,000. Finally, Themes Management Co LLC purchased a new position in shares of Brand Engagement Network in the first quarter valued at $2,105,000. 15.80% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

BNAI has been the topic of a number of analyst reports. Wall Street Zen upgraded Brand Engagement Network from a "sell" rating to a "hold" rating in a research note on Saturday, August 22nd. Weiss Ratings restated a "sell (e+)" rating on shares of Brand Engagement Network in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Sell".

Brand Engagement Network Price Performance

BNAI stock opened at $10.57 on Friday. The firm has a 50 day simple moving average of $13.55 and a two-hundred day simple moving average of $23.89. The stock has a market cap of $79.17 million, a PE ratio of -6.61 and a beta of 0.44. Brand Engagement Network Inc. has a one year low of $1.18 and a one year high of $86.28.

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

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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