Brand Engagement Network (NASDAQ:BNAI) Cut to Sell at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen downgraded shares of Brand Engagement Network (NASDAQ:BNAI – Free Report) from a hold rating to a sell rating in a report issued on Saturday morning.

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Brand Engagement Network in a report on Friday, July 17th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has a consensus rating of “Sell”.

View Our Latest Stock Report on Brand Engagement Network

Brand Engagement Network Stock Performance

NASDAQ:BNAI opened at $12.13 on Friday. The firm’s 50-day moving average is $16.58 and its 200-day moving average is $25.25. The company has a market cap of $71.08 million, a price-to-earnings ratio of -6.70 and a beta of 0.38. Brand Engagement Network has a 52-week low of $1.18 and a 52-week high of $86.28.

Brand Engagement Network (NASDAQ:BNAI – Get Free Report) last released its earnings results on Friday, May 15th. The company reported ($0.51) earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $0.10 million during the quarter, compared to analysts’ expectations of $0.30 million.

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. XTX Topco Ltd boosted its position in shares of Brand Engagement Network by 197.9% during the 2nd quarter. XTX Topco Ltd now owns 73,684 shares of the company’s stock valued at $32,000 after acquiring an additional 48,951 shares in the last quarter. Barclays PLC acquired a new position in Brand Engagement Network in the fourth quarter worth about $33,000. Finally, Themes Management Co LLC acquired a new position in Brand Engagement Network in the first quarter worth about $2,105,000. 15.80% of the stock is owned by institutional investors.

About Brand Engagement Network

(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. 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.

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