Atlas Merchant Capital LLC Sells 157,500 Shares of Brand Engagement Network Inc. $BNAI

Atlas Merchant Capital LLC trimmed its stake in shares of Brand Engagement Network Inc. (NASDAQ:BNAI) by 90.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,500 shares of the company’s stock after selling 157,500 shares during the period. Brand Engagement Network makes up about 74.5% of Atlas Merchant Capital LLC’s investment portfolio, making the stock its biggest position. Atlas Merchant Capital LLC’s holdings in Brand Engagement Network were worth $41,000 as of its most recent filing with the Securities and Exchange Commission.

Separately, XTX Topco Ltd lifted its position in shares of 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. 15.80% of the stock is currently owned by hedge funds and other institutional investors.

Brand Engagement Network Trading Up 0.7%

Brand Engagement Network stock opened at $21.37 on Friday. Brand Engagement Network Inc. has a 1 year low of $1.18 and a 1 year high of $86.28. The company has a market cap of $125.23 million, a PE ratio of -11.81 and a beta of 0.38. The company’s 50-day moving average is $27.59 and its two-hundred day moving average is $22.27.

Brand Engagement Network (NASDAQ:BNAI) last released its earnings results on Friday, May 15th. The company reported ($0.51) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.20) by $0.69. Brand Engagement Network had a negative net margin of 2,189.33% and a negative return on equity of 235.73%. The company had revenue of $0.10 million for the quarter, compared to the consensus estimate of $0.30 million.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Brand Engagement Network in a research report on Monday, April 20th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has a consensus 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.