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

Brand Engagement Network, Inc. (NASDAQ:BNAI) was the recipient of a significant increase in short interest in August. As of August 31st, there was short interest totalling 307,100 shares, an increase of 285.3% from the August 15th total of 79,700 shares. Based on an average daily volume of 273,100 shares, the days-to-cover ratio is presently 1.1 days. Currently, 1.4% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

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 Trading of Brand Engagement Network

Institutional investors have recently bought and sold shares of the stock. Whittier Trust Co. bought a new stake in Brand Engagement Network in the first quarter worth $319,000. Atlas Merchant Capital LLC bought a new stake in shares of Brand Engagement Network during the second quarter worth $604,000. Finally, Periscope Capital Inc. bought a new stake in shares of Brand Engagement Network during the first quarter worth $1,012,000. 15.80% of the stock is currently owned by institutional investors.

Brand Engagement Network Stock Up 4.1 %

BNAI traded up $0.04 during trading on Friday, reaching $1.02. The company had a trading volume of 48,916 shares, compared to its average volume of 1,424,716. The business’s 50 day moving average is $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 issued 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.