Banzai International, Inc. (NASDAQ:BNZI) Sees Large Decrease in Short Interest

Banzai International, Inc. (NASDAQ:BNZI) was the target of a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 85,200 shares, a decline of 51.9% from the October 15th total of 177,300 shares. Currently, 6.4% of the shares of the company are short sold. Based on an average daily volume of 3,210,000 shares, the short-interest ratio is currently 0.0 days.

Insider Activity

In other Banzai International news, major shareholder Cp Bf Lending, Llc sold 635,549 shares of the company’s stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $4.14, for a total transaction of $2,631,172.86. Following the completion of the sale, the insider now directly owns 4 shares of the company’s stock, valued at $16.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Banzai International news, major shareholder Alco Investment Co purchased 282,420 shares of Banzai International stock in a transaction on Friday, September 20th. The shares were bought at an average price of $3.89 per share, with a total value of $1,098,613.80. Following the purchase, the insider now directly owns 330,340 shares in the company, valued at $1,285,022.60. This trade represents a 500.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 directly owns 4 shares in the company, valued at approximately $16.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 57.74% of the company’s stock.

Hedge Funds Weigh In On Banzai International

A hedge fund recently bought a new stake in Banzai International stock. Virtu Financial LLC bought a new position in shares of Banzai International, Inc. (NASDAQ:BNZI) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 84,958 shares of the company’s stock, valued at approximately $52,000. Virtu Financial LLC owned about 0.42% of Banzai International at the end of the most recent reporting period. Hedge funds and other institutional investors own 96.82% of the company’s stock.

Banzai International Stock Performance

Shares of BNZI traded down $0.09 during mid-day trading on Wednesday, reaching $1.85. 69,961 shares of the company’s stock traded hands, compared to its average volume of 985,088. The business’s 50-day moving average price is $3.68 and its 200-day moving average price is $7.28. Banzai International has a 12 month low of $1.66 and a 12 month high of $828.50.

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

Analyst Upgrades and Downgrades

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

About Banzai International

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.