Brand Engagement Network Inc. (NASDAQ:BNAI) Short Interest Update

Brand Engagement Network Inc. (NASDAQ:BNAI) saw a large growth in short interest in the month of December. As of December 31st, there was short interest totaling 1,230,242 shares, a growth of 856.0% from the December 15th total of 128,685 shares. Based on an average daily volume of 14,571,178 shares, the days-to-cover ratio is currently 0.1 days. Approximately 36.8% of the company’s shares are sold short. Approximately 36.8% of the company’s shares are sold short. Based on an average daily volume of 14,571,178 shares, the days-to-cover ratio is currently 0.1 days.

Hedge Funds Weigh In On Brand Engagement Network

A number of hedge funds and other institutional investors have recently modified their holdings of BNAI. XTX Topco Ltd lifted its holdings 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 during the period. Corps Capital Advisors LLC increased its holdings in shares of Brand Engagement Network by 132.9% in the 2nd quarter. Corps Capital Advisors LLC now owns 223,064 shares of the company’s stock valued at $98,000 after acquiring an additional 127,286 shares during the period. Finally, Lido Advisors LLC increased its holdings in shares of Brand Engagement Network by 404.3% in the 2nd quarter. Lido Advisors LLC now owns 932,924 shares of the company’s stock valued at $410,000 after acquiring an additional 747,924 shares during the period. 15.80% of the stock is currently owned by institutional investors.

Brand Engagement Network Stock Performance

Shares of NASDAQ BNAI opened at $3.61 on Wednesday. Brand Engagement Network has a 52-week low of $1.18 and a 52-week high of $10.50. The firm has a market capitalization of $16.20 million, a price-to-earnings ratio of -0.56 and a beta of 0.71. The stock has a 50 day moving average price of $3.11 and a 200 day moving average price of $3.49.

Brand Engagement Network (NASDAQ:BNAI) last issued its earnings results on Tuesday, November 25th. The company reported ($0.59) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.40) by $0.81. The firm had revenue of $0.06 million for the quarter.

Analyst Ratings Changes

A number of research analysts have recently commented on BNAI shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Brand Engagement Network in a research note on Wednesday, October 8th. Wall Street Zen raised Brand Engagement Network to a “sell” rating in a research report on Saturday, December 13th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has an average rating of “Sell”.

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.