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

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

Institutional Trading of Brand Engagement Network

Hedge funds have recently added to or reduced their stakes in the stock. Lido Advisors LLC grew its stake in shares of Brand Engagement Network by 404.3% during the second 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 last quarter. Corps Capital Advisors LLC boosted its holdings in shares of Brand Engagement Network by 132.9% during 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 in the last quarter. Finally, XTX Topco Ltd grew its position in Brand Engagement Network by 197.9% during the 2nd quarter. XTX Topco Ltd now owns 73,684 shares of the company’s stock worth $32,000 after acquiring an additional 48,951 shares during the last quarter. Institutional investors and hedge funds own 15.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on BNAI shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Brand Engagement Network in a research note on Wednesday, October 8th. Wall Street Zen raised shares of Brand Engagement Network to a “sell” rating in a report on Saturday, December 13th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has a consensus rating of “Sell”.

Brand Engagement Network Stock Performance

Shares of Brand Engagement Network stock traded down $0.28 during trading on Monday, reaching $3.30. 473,413 shares of the company’s stock were exchanged, compared to its average volume of 14,161,038. Brand Engagement Network has a 1-year low of $1.18 and a 1-year high of $10.50. The company has a market cap of $14.82 million, a P/E ratio of -0.51 and a beta of 0.71. The firm’s 50-day moving average price is $3.12 and its 200 day moving average price is $3.49.

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

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.