Brand Engagement Network (NASDAQ:BNAI) Issues Earnings Results, Beats Expectations By $0.31 EPS

Brand Engagement Network (NASDAQ:BNAI) announced its quarterly earnings results on Friday. The company reported ($0.49) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.80) by $0.31, FiscalAI reports. Brand Engagement Network had a negative net margin of 2,189.33% and a negative return on equity of 235.73%. The firm had revenue of $0.06 million for the quarter, compared to the consensus estimate of $0.10 million.

Brand Engagement Network Stock Performance

NASDAQ:BNAI traded down $0.25 during trading hours on Friday, reaching $15.90. 98,465 shares of the company were exchanged, compared to its average volume of 143,851. Brand Engagement Network has a twelve month low of $1.18 and a twelve month high of $86.28. The stock’s 50-day moving average is $15.66 and its 200-day moving average is $25.90.

Analysts Set New Price Targets

BNAI has been the topic of several recent analyst reports. Wall Street Zen lowered shares of Brand Engagement Network from a “hold” rating to a “sell” rating in a research note on Saturday, July 25th. Weiss Ratings restated a “sell (e+)” rating on shares of Brand Engagement Network in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has a consensus rating of “Sell”.

Institutional Trading of Brand Engagement Network

An institutional investor recently raised its stake in Brand Engagement Network stock. XTX Topco Ltd boosted its stake in Brand Engagement Network Inc. (NASDAQ:BNAI) by 197.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 73,684 shares of the company’s stock after buying an additional 48,951 shares during the quarter. XTX Topco Ltd owned approximately 0.17% of Brand Engagement Network worth $32,000 at the end of the most recent reporting period. 15.80% of the stock is currently owned by institutional investors.

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.