Banzai International, Inc. (NASDAQ:BNZI) Sees Significant Drop in Short Interest

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

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Banzai International in a report on Wednesday, October 8th. Wall Street Zen lowered shares of Banzai International from a “hold” rating to a “sell” rating in a report on Saturday, August 2nd. Finally, Taglich Brothers upgraded shares of Banzai International to a “moderate buy” rating in a report on Monday, July 28th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $260.00.

Banzai International Price Performance

BNZI traded down $0.12 during mid-day trading on Tuesday, hitting $1.70. The stock had a trading volume of 196,361 shares, compared to its average volume of 285,538. The stock’s fifty day simple moving average is $2.74 and its 200-day simple moving average is $5.40. The firm has a market capitalization of $5.89 million, a price-to-earnings ratio of -0.18 and a beta of -0.61. Banzai International has a 1-year low of $1.54 and a 1-year high of $27.00.

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

Insiders Place Their Bets

In related news, CEO Joseph P. Davy sold 25,490 shares of the 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 transaction, the chief executive officer directly owned 5 shares in the company, valued at $12. This represents a 99.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 11.12% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Banzai International

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

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.