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

Banzai International, Inc. (NASDAQ:BNZI) was the target of a large decrease in short interest during the month of 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 currently 0.0 days. Approximately 6.4% of the shares of the stock are short sold.

Banzai International Price Performance

BNZI stock traded down $0.21 during midday trading on Friday, hitting $1.73. The stock had a trading volume of 210,648 shares, compared to its average volume of 979,287. Banzai International has a 1-year low of $1.66 and a 1-year high of $828.50. The business has a fifty day moving average price of $3.59 and a two-hundred day moving average price of $7.21.

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

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In related news, major shareholder Alco Investment Co bought 282,420 shares of the firm’s stock in a transaction on Friday, September 20th. The shares were purchased at an average price of $3.89 per share, with a total value of $1,098,613.80. Following the completion of the purchase, the insider now owns 330,340 shares in the company, valued at $1,285,022.60. This represents a 589.36 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Cp Bf Lending, Llc sold 635,549 shares of the business’s stock in a transaction 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 sale, the insider now directly owns 4 shares in the company, valued at approximately $16.56. The trade was a 100.00 % decrease in their position. The disclosure for this sale can be found here. 57.74% of the stock is owned by corporate insiders.

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) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 84,958 shares of the company’s stock, valued at approximately $52,000. Virtu Financial LLC owned 0.42% of Banzai International as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 96.82% of the company’s stock.

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.