Brand Engagement Network (NASDAQ:BNAI – Get Free Report) released its earnings results on Friday. The company reported ($0.49) EPS for the quarter, beating the consensus estimate of ($0.80) by $0.31, FiscalAI reports. The firm had revenue of $0.06 million for the quarter, compared to analysts’ expectations of $100.00 million. Brand Engagement Network had a negative net margin of 2,189.33% and a negative return on equity of 235.73%.
Brand Engagement Network Trading Down 1.5%
Shares of BNAI traded down $0.25 during midday trading on Friday, hitting $15.90. The stock had a trading volume of 98,465 shares, compared to its average volume of 143,851. The business has a 50-day simple moving average of $15.53 and a two-hundred day simple moving average of $25.83. The firm has a market cap of $93.17 million, a P/E ratio of -8.78 and a beta of 0.44. Brand Engagement Network has a fifty-two week low of $1.18 and a fifty-two week high of $86.28.
Analysts Set New Price Targets
Several brokerages recently weighed in on BNAI. Wall Street Zen cut Brand Engagement Network from a “hold” rating to a “sell” rating in a research note on Saturday, July 25th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Brand Engagement Network in a research note on Friday, July 17th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, Brand Engagement Network has an average rating of “Sell”.
Hedge Funds Weigh In On Brand Engagement Network
An institutional investor recently raised its stake in Brand Engagement Network stock. XTX Topco Ltd boosted its position in shares of Brand Engagement Network Inc. (NASDAQ:BNAI – Free Report) by 197.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 73,684 shares of the company’s stock after purchasing an additional 48,951 shares during the period. XTX Topco Ltd owned 0.17% of Brand Engagement Network worth $32,000 at the end of the most recent reporting period. 15.80% of the stock is owned by institutional investors.
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. It serves the automotive, healthcare, and other industries through direct sales force and channel partners. Brand Engagement Network, Inc was formerly known as Blockchain Exchange Network Inc and changed its name to Brand Engagement Network, Inc in April 2023.
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