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

Brand Engagement Network (NASDAQ:BNAI) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday, Wall Street Zen reports.

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

Brand Engagement Network Stock Performance

BNAI stock opened at $7.28 on Friday. The company has a market cap of $54.53 million, a P/E ratio of -4.55 and a beta of 0.44. Brand Engagement Network has a 52 week low of $1.18 and a 52 week high of $86.28. The company’s 50-day moving average price is $12.02 and its 200 day moving average price is $22.72.

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

Institutional Trading of Brand Engagement Network

Several institutional investors and hedge funds have recently modified their holdings of BNAI. Engineers Gate Manager LP purchased a new position in shares of Brand Engagement Network during the 2nd quarter worth approximately $328,000. Susquehanna International Group LLP raised its position in shares of Brand Engagement Network by 426.6% during the 2nd quarter. Susquehanna International Group LLP now owns 37,472 shares of the company’s stock worth $641,000 after purchasing an additional 30,356 shares during the last quarter. BlackRock Inc. purchased a new stake in Brand Engagement Network in the 2nd quarter valued at approximately $5,673,000. Deutsche Bank AG purchased a new stake in Brand Engagement Network in the 2nd quarter valued at approximately $75,000. Finally, Bank of New York Mellon Corp acquired a new stake in Brand Engagement Network during the 2nd quarter valued at $203,000. Hedge funds and other institutional investors own 15.80% of the company’s stock.

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.