Banzai International, Inc. (NASDAQ:BNZI) Short Interest Down 51.9% in October

Banzai International, Inc. (NASDAQ:BNZI) was the recipient of a large decrease in short interest in October. As of October 31st, there was short interest totalling 85,200 shares, a decrease of 51.9% from the October 15th total of 177,300 shares. Based on an average daily trading volume, of 3,210,000 shares, the days-to-cover ratio is presently 0.0 days. Approximately 6.4% of the company’s shares are short sold.

Banzai International Price Performance

Shares of NASDAQ BNZI traded down $0.21 during mid-day trading on Friday, hitting $1.73. The company had a trading volume of 210,648 shares, compared to its average volume of 979,287. Banzai International has a one year low of $1.66 and a one year high of $828.50. The firm has a 50-day simple moving average of $3.59 and a two-hundred day simple moving average of $7.21.

Banzai International (NASDAQ:BNZI) last announced its quarterly earnings results on Wednesday, August 14th. The company reported ($7.50) EPS for the quarter. The company had revenue of $1.07 million for the quarter. As a group, sell-side analysts predict that Banzai International will post -25.5 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Cp Bf Lending, Llc sold 635,549 shares of the stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $4.14, for a total value of $2,631,172.86. Following the transaction, the insider now owns 4 shares of the company’s stock, valued at $16.56. This represents a 100.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Alco Investment Co purchased 282,420 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was bought at an average cost of $3.89 per share, for a total transaction of $1,098,613.80. Following the purchase, the insider now owns 330,340 shares in the company, valued at $1,285,022.60. This trade represents a 589.36 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 57.74% of the company’s stock.

Institutional Investors Weigh In On Banzai International

A hedge fund recently bought a new stake in Banzai International stock. Virtu Financial LLC acquired a new stake in Banzai International, Inc. (NASDAQ:BNZI) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 84,958 shares of the company’s stock, valued at approximately $52,000. Virtu Financial LLC owned approximately 0.42% of Banzai International at the end of the most recent reporting period. 96.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Ascendiant Capital Markets dropped their price objective on Banzai International from $162.50 to $125.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th.

Banzai International Company Profile

Banzai International, Inc, a marketing technology company, provides data-driven marketing and sales solutions for various businesses in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. Its products include Demio, a browser-based webinar platform with data and marketing features designed to help businesses engage with their audience through live events and on-demand, interactive video content; Boost, a software-as-a-service (SaaS) solution for social sharing by event registrants; and Reach, a SaaS and managed service to increase registration and attendance of marketing events.