Brand Engagement Network (NASDAQ:BNAI) Issues Quarterly Earnings Results, Beats Expectations By $0.31 EPS

Brand Engagement Network (NASDAQ:BNAI) issued its quarterly earnings results on Friday. The company reported ($0.49) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.80) by $0.31, FiscalAI reports. Brand Engagement Network had a negative net margin of 2,189.33% and a negative return on equity of 235.73%. The company had revenue of $0.06 million during the quarter, compared to the consensus estimate of $100.00 million.

Brand Engagement Network Stock Performance

BNAI opened at $15.90 on Friday. Brand Engagement Network has a one year low of $1.18 and a one year high of $86.28. The company has a market cap of $93.14 million, a P/E ratio of -8.78 and a beta of 0.44. The business’s 50-day simple moving average is $15.53 and its 200-day simple moving average is $25.83.

Hedge Funds Weigh In On Brand Engagement Network

A hedge fund recently raised its stake in Brand Engagement Network stock. XTX Topco Ltd lifted its stake in shares of Brand Engagement Network Inc. (NASDAQ:BNAI) by 197.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 73,684 shares of the company’s stock after buying an additional 48,951 shares during the quarter. XTX Topco Ltd owned about 0.17% of Brand Engagement Network worth $32,000 at the end of the most recent reporting period. Institutional investors own 15.80% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on BNAI. Wall Street Zen downgraded shares of Brand Engagement Network from a “hold” rating to a “sell” rating in a research report on Saturday, July 25th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Brand Engagement Network in a research report on Friday, July 17th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has an average rating of “Sell”.

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.