Brand Engagement Network, Inc. (NASDAQ:BNAI – Get Free Report) was the target of a large increase in short interest in the month of 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. Currently, 1.4% of the shares of the company are short sold. Based on an average trading volume of 273,100 shares, the short-interest ratio is currently 1.1 days.
Hedge Funds Weigh In On Brand Engagement Network
Hedge funds have recently added to or reduced their stakes in the stock. Whittier Trust Co. bought a new position in shares of Brand Engagement Network in the first quarter worth $319,000. Atlas Merchant Capital LLC acquired a new position in shares of Brand Engagement Network in the 2nd quarter valued at approximately $604,000. Finally, Periscope Capital Inc. acquired a new stake in shares of Brand Engagement Network during the 1st quarter worth approximately $1,012,000. Institutional investors own 15.80% of the company’s stock.
Brand Engagement Network Price Performance
BNAI traded up $0.02 during trading on Friday, hitting $1.00. The stock had a trading volume of 32,977 shares, compared to its average volume of 1,424,614. The stock has a 50 day simple moving average of $2.07. Brand Engagement Network has a one year low of $0.80 and a one year high of $19.75.
Analyst Ratings Changes
Separately, Maxim Group initiated coverage on shares of Brand Engagement Network in a research note on Thursday, July 25th. They set a “buy” rating and a $6.00 target price for the company.
Read Our Latest Stock Report on Brand Engagement Network
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.
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