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

Brand Engagement Network, Inc. (NASDAQ:BNAI) was the target of a significant drop in short interest in 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. Based on an average trading volume of 179,900 shares, the days-to-cover ratio is presently 1.2 days. Currently, 1.0% of the shares of the company are sold short.

Institutional Investors Weigh In On Brand Engagement Network

Several hedge funds have recently added to or reduced their stakes in BNAI. 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 shares of Brand Engagement Network in the 2nd quarter worth approximately $604,000. Finally, Periscope Capital Inc. acquired a new position in shares of Brand Engagement Network in the 1st quarter worth approximately $1,012,000. 15.80% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Brand Engagement Network Trading Up 2.6 %

Shares of Brand Engagement Network stock traded up $0.03 during midday trading on Friday, hitting $1.02. 76,880 shares of the company traded hands, compared to its average volume of 1,344,787. The business has a fifty day simple moving average of $1.61. Brand Engagement Network has a 12 month low of $0.80 and a 12 month high of $19.75.

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

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.