Short Interest in Brand Engagement Network, Inc. (NASDAQ:BNAI) Decreases By 31.5%

Posted by Michael Walen on Oct 13th, 2024

Brand Engagement Network, Inc. (NASDAQ:BNAI – Get Free Report) was the recipient of a significant decrease in short interest during the month of September. As of September 30th, there was short interest totalling 153,400 shares, a decrease of 31.5% from the September 15th total of 224,000 shares. Based on an average trading volume of 165,700 shares, the days-to-cover ratio is presently 0.9 days. Approximately 0.6% of the shares of the stock are sold short.

Hedge Funds Weigh In On Brand Engagement Network

A number of hedge funds and other institutional investors have recently made changes to their positions in BNAI. Whittier Trust Co. bought a new position in shares of Brand Engagement Network during the 1st quarter worth about $319,000. Atlas Merchant Capital LLC acquired a new stake in Brand Engagement Network in the second quarter valued at approximately $604,000. Finally, Periscope Capital Inc. acquired a new stake in Brand Engagement Network in the first quarter valued at approximately $1,012,000. 15.80% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Maxim Group started coverage on shares of Brand Engagement Network in a report on Thursday, July 25th. They set a “buy” rating and a $6.00 price target on the stock.

Get Our Latest Stock Report on BNAI

Brand Engagement Network Stock Up 6.8 %

Shares of NASDAQ:BNAI traded up $0.06 during trading on Friday, hitting $0.94. 62,727 shares of the company were exchanged, compared to its average volume of 1,274,836. Brand Engagement Network has a 1-year low of $0.75 and a 1-year high of $19.75. The business’s 50 day moving average is $1.31 and its 200-day moving average is $2.65.

Brand Engagement Network (NASDAQ:BNAI – Get Free Report) last posted its quarterly earnings data on Wednesday, August 14th. The company reported ($0.19) earnings per share for the quarter.

Brand Engagement Network Company Profile

(Get Free Report)

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.