Brand Engagement Network (NASDAQ:BNAI) Stock Price Down 7.4% – Here’s What Happened

Shares of Brand Engagement Network Inc. (NASDAQ:BNAI) fell 7.4% on Wednesday . The stock traded as low as $0.4506 and last traded at $0.4609. 989,481 shares traded hands during trading, a decline of 95% from the average session volume of 21,558,516 shares. The stock had previously closed at $0.4977.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Brand Engagement Network in a research report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has an average rating of “Sell”.

Brand Engagement Network Trading Down 7.4%

The stock has a market cap of $20.69 million, a P/E ratio of -0.61 and a beta of 0.61. The firm has a 50-day simple moving average of $0.38 and a two-hundred day simple moving average of $0.36.

Brand Engagement Network (NASDAQ:BNAI) last issued its quarterly earnings results on Friday, October 10th. The company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.07.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Lido Advisors LLC increased its position in shares of Brand Engagement Network by 404.3% in the second quarter. Lido Advisors LLC now owns 932,924 shares of the company’s stock worth $410,000 after purchasing an additional 747,924 shares during the period. Sentinel Trust Co. LBA bought a new position in shares of Brand Engagement Network in the first quarter worth $119,000. Corps Capital Advisors LLC increased its position in shares of Brand Engagement Network by 132.9% in the second quarter. Corps Capital Advisors LLC now owns 223,064 shares of the company’s stock worth $98,000 after purchasing an additional 127,286 shares during the period. Lee Kelleher Wealth Management bought a new position in shares of Brand Engagement Network in the first quarter worth $52,000. Finally, XTX Topco Ltd increased its position in shares of Brand Engagement Network by 197.9% in the second quarter. XTX Topco Ltd now owns 73,684 shares of the company’s stock worth $32,000 after purchasing an additional 48,951 shares during the period. Institutional investors own 15.80% of the company’s stock.

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.