Brand Engagement Network, Inc. (NASDAQ:BNAI) Short Interest Update

Posted by Anthony Bellafiore on Sep 1st, 2024

Brand Engagement Network, Inc. (NASDAQ:BNAI – Get Free Report) was the recipient of a large drop in short interest in August. As of August 15th, there was short interest totalling 79,700 shares, a drop of 14.3% from the July 31st total of 93,000 shares. Based on an average daily volume of 3,250,000 shares, the days-to-cover ratio is currently 0.0 days. Currently, 0.5% of the company’s stock are sold short.

Analysts Set New Price Targets

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

Get Our Latest Stock Analysis on BNAI

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Whittier Trust Co. acquired a new position in shares of Brand Engagement Network in the 1st quarter worth approximately $319,000. Atlas Merchant Capital LLC acquired a new position in Brand Engagement Network during the 2nd quarter valued at approximately $604,000. Finally, Periscope Capital Inc. acquired a new position in Brand Engagement Network during the 1st quarter valued at approximately $1,012,000. Institutional investors and hedge funds own 15.80% of the company’s stock.

Brand Engagement Network Trading Down 1.7 %

Shares of BNAI traded down $0.02 during mid-day trading on Friday, hitting $1.17. The stock had a trading volume of 230,789 shares, compared to its average volume of 284,870. The company’s fifty day moving average price is $2.46. Brand Engagement Network has a fifty-two week low of $0.99 and a fifty-two week high of $19.75.

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.