Brand Engagement Network (NASDAQ:BNAI) Cut to Sell at Wall Street Zen

Wall Street Zen cut shares of Brand Engagement Network (NASDAQ:BNAI) from a hold rating to a sell rating in a research report released on Saturday morning,Wall Street Zen reports.

Separately, Weiss Ratings raised shares of Brand Engagement Network from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, September 10th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has an average rating of “Sell”.

Brand Engagement Network Trading Down 2.9%

Shares of Brand Engagement Network stock opened at $7.07 on Friday. The business’s fifty day moving average price is $11.91 and its 200 day moving average price is $22.47. Brand Engagement Network has a twelve month low of $1.18 and a twelve month high of $86.28. The stock has a market capitalization of $52.95 million, a P/E ratio of -4.42 and a beta of 0.44.

Brand Engagement Network (NASDAQ:BNAI) last announced its quarterly earnings results on Friday, August 14th. The company reported ($0.49) EPS for the quarter, topping the consensus estimate of ($0.80) by $0.31. The company had revenue of $0.06 million during the quarter, compared to analyst estimates of $100.00 million. Brand Engagement Network had a negative return on equity of 145.56% and a negative net margin of 2,356.26%.

Institutional Investors Weigh In On Brand Engagement Network

A number of large investors have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of Brand Engagement Network in the second quarter worth about $5,673,000. Themes Management Co LLC acquired a new stake in Brand Engagement Network during the 1st quarter valued at approximately $2,105,000. Susquehanna International Group LLP grew its stake in Brand Engagement Network by 426.6% during the 2nd quarter. Susquehanna International Group LLP now owns 37,472 shares of the company’s stock valued at $641,000 after purchasing an additional 30,356 shares in the last quarter. Engineers Gate Manager LP purchased a new stake in Brand Engagement Network during the 2nd quarter worth approximately $328,000. Finally, Bank of New York Mellon Corp purchased a new stake in Brand Engagement Network during the 2nd quarter worth approximately $203,000. 15.80% of the stock is owned by institutional investors and hedge funds.

Brand Engagement Network Company Profile

Brand Engagement Network, Inc (NASDAQ:BNAI) is an artificial intelligence technology company that develops conversational and engagement solutions for businesses and other organizations. Its platform is designed to enable natural, personalized interactions between companies and their customers through AI-powered digital assistants and branded virtual experiences.

The company’s solutions are intended to support functions such as customer service, sales, product education, lead generation and employee or customer training.