Short Interest in Brand Engagement Network Inc. (NASDAQ:BNAI) Drops By 17.2%

Key Points

• Short interest in Brand Engagement Network fell 17.2% in March to 599,985 shares; about 18.0% of the company's shares are sold short and the short‑interest ratio is just 0.4 days (average daily volume ~1.64M shares).
• Institutional activity picked up: XTX Topco increased its stake ~197.9% to 73,684 shares and Lido Advisors grew its position ~404.3% to 932,924 shares, with institutions now owning roughly 15.8% of the stock.
• The stock opened at $36.11 with a 50‑day/200‑day moving average of $31.48/$13.45, a 52‑week range of $1.18–$86.28 and a market cap of $162.1M; the consensus rating remains a “Sell” despite one upgrade to Hold.

Brand Engagement Network Inc. (NASDAQ:BNAI - Get Free Report) saw a large drop in short interest in the month of March. As of March 13th, there was short interest totaling 599,985 shares, a drop of 17.2% from the February 26th total of 724,239 shares. Approximately 18.0% of the company's shares are sold short. Based on an average daily trading volume, of 1,638,282 shares, the short-interest ratio is currently 0.4 days.

Institutional Investors Weigh In On Brand Engagement Network

A number of institutional investors have recently made changes to their positions in BNAI. XTX Topco Ltd increased its holdings 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 bought a new position in Brand Engagement Network during the fourth quarter worth about $33,000. Finally, Lido Advisors LLC grew its position in shares of Brand Engagement Network by 404.3% during the 2nd quarter. Lido Advisors LLC now owns 932,924 shares of the company's stock worth $410,000 after buying an additional 747,924 shares during the period. 15.80% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BNAI has been the topic of several research reports. Wall Street Zen raised Brand Engagement Network from a "sell" rating to a "hold" rating in a research note on Saturday, February 7th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Brand Engagement Network in a research report on Wednesday, January 21st. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has a consensus rating of "Sell".

Brand Engagement Network Stock Performance

Shares of BNAI stock opened at $36.11 on Monday. The firm's 50 day moving average price is $31.48 and its two-hundred day moving average price is $13.45. 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 $162.13 million, a PE ratio of -5.56 and a beta of 0.96.

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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