Banzai International, Inc. (NASDAQ:BNZI) Sees Large Drop in Short Interest

Banzai International, Inc. (NASDAQ:BNZI) saw a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 85,200 shares, a decline of 51.9% from the October 15th total of 177,300 shares. Based on an average trading volume of 3,210,000 shares, the short-interest ratio is presently 0.0 days. Approximately 6.4% of the shares of the stock are short sold.

Insiders Place Their Bets

In other Banzai International news, major shareholder Alco Investment Co bought 282,420 shares of the business’s stock in a transaction on Friday, September 20th. The stock was bought at an average price of $3.89 per share, for a total transaction of $1,098,613.80. Following the completion of the transaction, the insider now owns 330,340 shares in the company, valued at approximately $1,285,022.60. The trade was a 500.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, major shareholder Cp Bf Lending, Llc sold 635,549 shares of the business’s stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $4.14, for a total value of $2,631,172.86. Following the completion of the sale, the insider now directly owns 4 shares in the company, valued at approximately $16.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Alco Investment Co bought 282,420 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was bought at an average price of $3.89 per share, with a total value of $1,098,613.80. Following the completion of the acquisition, the insider now owns 330,340 shares of the company’s stock, valued at $1,285,022.60. This trade represents a 500.00 % increase in their position. The disclosure for this purchase can be found here. 57.74% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Banzai International

A hedge fund recently bought a new stake in Banzai International stock. Virtu Financial LLC bought a new stake in Banzai International, Inc. (NASDAQ:BNZI) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 84,958 shares of the company’s stock, valued at approximately $52,000. Virtu Financial LLC owned approximately 0.42% of Banzai International as of its most recent SEC filing. Hedge funds and other institutional investors own 96.82% of the company’s stock.

Banzai International Stock Up 5.7 %

Shares of NASDAQ:BNZI traded up $0.10 on Thursday, reaching $1.85. 129,042 shares of the company’s stock were exchanged, compared to its average volume of 982,166. Banzai International has a fifty-two week low of $1.66 and a fifty-two week high of $828.50. The business’s 50-day moving average is $3.63 and its two-hundred day moving average is $7.24.

Banzai International (NASDAQ:BNZI) last issued its earnings results on Wednesday, August 14th. The company reported ($7.50) earnings per share for the quarter. The business had revenue of $1.07 million for the quarter. Equities analysts anticipate that Banzai International will post -25.5 EPS for the current year.

Analysts Set New Price Targets

Separately, Ascendiant Capital Markets decreased their target price on shares of Banzai International from $162.50 to $125.00 and set a “buy” rating for the company in a research note on Thursday, August 29th.

About Banzai International

Banzai International, Inc, a marketing technology company, provides data-driven marketing and sales solutions for various businesses in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. Its products include Demio, a browser-based webinar platform with data and marketing features designed to help businesses engage with their audience through live events and on-demand, interactive video content; Boost, a software-as-a-service (SaaS) solution for social sharing by event registrants; and Reach, a SaaS and managed service to increase registration and attendance of marketing events.