Short Interest in Banzai International, Inc. (NASDAQ:BNZI) Grows By 39.5%

Banzai International, Inc. (NASDAQ:BNZI) was the recipient of a large increase in short interest during the month of October. As of October 15th, there was short interest totalling 177,300 shares, an increase of 39.5% from the September 30th total of 127,100 shares. Based on an average trading volume of 2,910,000 shares, the short-interest ratio is currently 0.1 days. Currently, 10.7% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

Separately, Ascendiant Capital Markets decreased their price target on shares of 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 Stock Performance

Banzai International stock remained flat at $2.88 during trading on Friday. 146,242 shares of the company were exchanged, compared to its average volume of 948,224. Banzai International has a 52-week low of $2.42 and a 52-week high of $828.50. The business’s 50-day moving average price is $4.42 and its 200 day moving average price is $8.81.

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

Insider Activity at Banzai International

In other Banzai International news, major shareholder Alco Investment Co acquired 282,420 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were purchased at an average cost of $3.89 per share, with a total value of $1,098,613.80. Following the purchase, the insider now owns 330,340 shares in the company, valued at approximately $1,285,022.60. The trade was a 500.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, major shareholder Alco Investment Co purchased 282,420 shares of the firm’s stock in a transaction on Friday, September 20th. The shares were bought at an average cost 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 of the company’s stock, valued at approximately $1,285,022.60. This trade represents a 500.00 % increase in their ownership of the stock. The transaction 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 firm’s stock in a transaction dated 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 sale, the insider now directly owns 4 shares in the company, valued at $16.56. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 57.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Banzai International stock. Sandia Investment Management LP bought a new position in shares of Banzai International, Inc. (NASDAQ:BNZI) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 41,251 shares of the company’s stock, valued at approximately $25,000. Sandia Investment Management LP owned approximately 0.21% of Banzai International at the end of the most recent quarter. 96.82% of the stock is owned by hedge funds and other institutional investors.

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.