Banzai International, Inc. (NASDAQ:BNZI) Short Interest Down 27.9% in October

Banzai International, Inc. (NASDAQ:BNZI) saw a large drop in short interest in the month of October. As of October 15th, there was short interest totaling 268,500 shares, a drop of 27.9% from the September 30th total of 372,600 shares. Approximately 9.1% of the shares of the company are short sold. Based on an average daily trading volume, of 424,100 shares, the short-interest ratio is currently 0.6 days. Based on an average daily trading volume, of 424,100 shares, the short-interest ratio is currently 0.6 days. Approximately 9.1% of the shares of the company are short sold.

Analyst Ratings Changes

BNZI has been the subject of several analyst reports. Wall Street Zen downgraded shares of Banzai International from a “hold” rating to a “sell” rating in a report on Saturday, August 2nd. Weiss Ratings reissued a “sell (e+)” rating on shares of Banzai International in a report on Wednesday, October 8th. Finally, Taglich Brothers raised shares of Banzai International to a “moderate buy” rating in a report on Monday, July 28th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $260.00.

Insider Buying and Selling

In related news, CEO Joseph P. Davy sold 25,490 shares of the firm’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $2.40, for a total value of $61,176.00. Following the completion of the transaction, the chief executive officer directly owned 5 shares of the company’s stock, valued at approximately $12. This trade represents a 99.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 11.12% of the company’s stock.

Institutional Trading of Banzai International

A hedge fund recently bought a new stake in Banzai International stock. Virtu Financial LLC acquired a new stake in Banzai International, Inc. (NASDAQ:BNZI) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 59,710 shares of the company’s stock, valued at approximately $67,000. Virtu Financial LLC owned 0.39% of Banzai International at the end of the most recent quarter. 96.82% of the stock is currently owned by institutional investors and hedge funds.

Banzai International Stock Down 18.2%

Shares of NASDAQ BNZI traded down $0.41 during mid-day trading on Monday, reaching $1.82. 721,952 shares of the company were exchanged, compared to its average volume of 286,030. Banzai International has a 52 week low of $1.80 and a 52 week high of $27.00. The stock has a market capitalization of $6.28 million, a PE ratio of -0.19 and a beta of -0.61. The company’s 50 day moving average price is $2.77 and its 200 day moving average price is $5.46.

Banzai International (NASDAQ:BNZI) last posted its quarterly earnings data on Thursday, August 14th. The company reported ($3.51) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.20) by ($2.31). The firm had revenue of $3.26 million for the quarter, compared to the consensus estimate of $4.00 million.

About Banzai International

Banzai International, Inc, a marketing technology company, provides data-driven marketing and sales solutions for various businesses in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. Its products include Demio, a browser-based webinar platform with data and marketing features designed to help businesses engage with their audience through live events and on-demand, interactive video content; Boost, a software-as-a-service (SaaS) solution for social sharing by event registrants; and Reach, a SaaS and managed service to increase registration and attendance of marketing events.