Brand Engagement Network Inc. (NASDAQ:BNAI) Short Interest Down 17.2% in March

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

Brand Engagement Network Trading Down 1.7%

BNAI traded down $0.64 on Wednesday, reaching $37.27. The company had a trading volume of 166,646 shares, compared to its average volume of 6,632,610. The company has a market capitalization of $167.25 million, a P/E ratio of -5.70 and a beta of 0.96. The company has a fifty day moving average of $32.67 and a 200-day moving average of $13.91. Brand Engagement Network has a one year low of $1.18 and a one year high of $86.28.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. XTX Topco Ltd raised 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 purchasing an additional 48,951 shares in the last quarter. Barclays PLC bought a new stake in shares of Brand Engagement Network in the 4th quarter worth $33,000. Finally, Lido Advisors LLC raised its stake 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 worth $410,000 after buying an additional 747,924 shares in the last quarter. Institutional investors and hedge funds own 15.80% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Wall Street Zen upgraded Brand Engagement Network from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Brand Engagement Network in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Sell”.

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.