Brand Engagement Network, Inc. (NASDAQ:BNAI) Sees Significant Drop in Short Interest

Brand Engagement Network, Inc. (NASDAQ:BNAI) saw a significant drop in short interest during the month of September. As of September 15th, there was short interest totalling 224,000 shares, a drop of 27.1% from the August 31st total of 307,100 shares. Currently, 1.0% of the shares of the company are short sold. Based on an average daily volume of 179,900 shares, the days-to-cover ratio is presently 1.2 days.

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. acquired a new stake in shares of Brand Engagement Network during the first quarter worth $319,000. Periscope Capital Inc. acquired a new position in Brand Engagement Network in the 1st quarter valued at $1,012,000. Finally, Atlas Merchant Capital LLC purchased a new position in Brand Engagement Network during the 2nd quarter worth $604,000. Hedge funds and other institutional investors own 15.80% of the company’s stock.

Brand Engagement Network Trading Up 2.6 %

Shares of BNAI stock traded up $0.03 during trading hours on Friday, hitting $1.02. The stock had a trading volume of 76,762 shares, compared to its average volume of 1,344,787. The stock has a 50 day moving average price of $1.64. Brand Engagement Network has a twelve month low of $0.80 and a twelve month high of $19.75.

Brand Engagement Network (NASDAQ:BNAI) last issued its quarterly earnings results on Wednesday, August 14th. The company reported ($0.19) earnings per share for the quarter.

Wall Street Analyst Weigh In

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

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.