Brand Engagement Network, Inc. (NASDAQ:BNAI) Sees Large Growth in Short Interest

Brand Engagement Network, Inc. (NASDAQ:BNAI) was the recipient of a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 307,100 shares, a growth of 285.3% from the August 15th total of 79,700 shares. Based on an average daily volume of 273,100 shares, the short-interest ratio is currently 1.1 days. Approximately 1.4% of the shares of the company are sold short.

Brand Engagement Network Trading Up 4.1 %

Brand Engagement Network stock traded up $0.04 during midday trading on Friday, hitting $1.02. The stock had a trading volume of 48,916 shares, compared to its average volume of 1,424,716. The stock has a fifty day moving average of $2.03. Brand Engagement Network has a 52-week low of $0.80 and a 52-week high of $19.75.

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

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Brand Engagement Network

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Whittier Trust Co. purchased a new stake in Brand Engagement Network during the 1st quarter valued at approximately $319,000. Atlas Merchant Capital LLC purchased a new stake in Brand Engagement Network during the 2nd quarter valued at approximately $604,000. Finally, Periscope Capital Inc. purchased a new stake in Brand Engagement Network during the 1st quarter valued at approximately $1,012,000. 15.80% of the stock is owned by hedge funds and other institutional investors.

Brand Engagement Network Company Profile

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.