Banzai International, Inc. (NASDAQ:BNZI) Short Interest Up 893.0% in September

Banzai International, Inc. (NASDAQ:BNZI) was the target of a large increase in short interest in September. As of September 30th, there was short interest totalling 127,100 shares, an increase of 893.0% from the September 15th total of 12,800 shares. Based on an average daily volume of 2,650,000 shares, the short-interest ratio is presently 0.0 days. Currently, 17.1% of the shares of the stock are short sold.

Insiders Place Their Bets

In other news, major shareholder Alco Investment Co purchased 282,420 shares of Banzai International stock in a transaction dated Friday, September 20th. The shares were bought at an average cost of $3.89 per share, for a total transaction of $1,098,613.80. Following the completion of the acquisition, the insider now owns 330,340 shares in the company, valued at approximately $1,285,022.60. This trade represents a 500.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 49.90% of the company’s stock.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Banzai International stock. Sandia Investment Management LP bought a new position in Banzai International, Inc. (NASDAQ:BNZI) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 41,251 shares of the company’s stock, valued at approximately $25,000. Sandia Investment Management LP owned approximately 0.21% of Banzai International as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 96.82% of the company’s stock.

Banzai International Price Performance

Shares of Banzai International stock traded down $0.66 during midday trading on Friday, reaching $4.43. The company had a trading volume of 385,821 shares, compared to its average volume of 8,575,815. The stock has a fifty day moving average price of $1.69 and a 200 day moving average price of $0.77. Banzai International has a fifty-two week low of $2.42 and a fifty-two week high of $828.50.

Banzai International (NASDAQ:BNZI) last posted its quarterly earnings data on Wednesday, August 14th. The company reported ($0.15) EPS for the quarter. The firm had revenue of $1.07 million for the quarter. As a group, research analysts expect that Banzai International will post -25.5 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Ascendiant Capital Markets lowered their target price on Banzai International from $3.25 to $2.50 and set a “buy” rating for the company in a research report 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.