Brand Engagement Network (NASDAQ:BNAI) Posts Earnings Results, Beats Estimates By $0.31 EPS

Brand Engagement Network (NASDAQ:BNAI) issued its quarterly earnings data on Friday. The company reported ($0.49) earnings per share (EPS) for the quarter, beating 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 business had revenue of $0.06 million for the quarter, compared to the consensus estimate of $0.10 million.

Brand Engagement Network Stock Performance

Shares of Brand Engagement Network stock traded down $0.25 during midday trading on Friday, hitting $15.90. The company had a trading volume of 98,465 shares, compared to its average volume of 2,952,260. Brand Engagement Network has a 52-week low of $1.18 and a 52-week high of $86.28. The stock has a market capitalization of $93.17 million, a P/E ratio of -8.78 and a beta of 0.44. The company has a 50 day moving average of $15.66 and a 200 day moving average of $25.90.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Brand Engagement Network stock. Barclays PLC bought a new position in Brand Engagement Network Inc. (NASDAQ:BNAI) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 14,041 shares of the company’s stock, valued at approximately $33,000. Barclays PLC owned approximately 0.31% of Brand Engagement Network as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 15.80% of the company’s stock.

Analyst Ratings Changes

BNAI has been the topic of several research reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Brand Engagement Network in a research report on Friday, July 17th. Wall Street Zen downgraded Brand Engagement Network from a “hold” rating to a “sell” rating in a report on Saturday, July 25th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, Brand Engagement Network currently has an average rating of “Sell”.

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. 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.