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

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

Analysts Set New Price Targets

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

Banzai International Price Performance

Shares of NASDAQ BNZI traded up $0.10 during mid-day trading on Thursday, reaching $1.85. The company had a trading volume of 129,042 shares, compared to its average volume of 982,166. The stock has a fifty day moving average of $3.63 and a two-hundred day moving average of $7.24. 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 firm had revenue of $1.07 million for the quarter. Equities research analysts predict that Banzai International will post -25.5 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Cp Bf Lending, Llc sold 635,549 shares of the firm’s stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $4.14, for a total transaction of $2,631,172.86. Following the completion of the transaction, the insider now owns 4 shares in the company, valued at approximately $16.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Banzai International news, major shareholder Cp Bf Lending, Llc sold 635,549 shares of the company’s stock in a transaction dated Thursday, October 17th. The shares were 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 approximately $16.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Alco Investment Co acquired 282,420 shares of Banzai International stock in a transaction 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 completion of the purchase, the insider now directly owns 330,340 shares of the company’s stock, valued at approximately $1,285,022.60. This represents a 500.00 % increase in their position. The disclosure for this purchase can be found here. 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 purchased a new stake in shares of Banzai International, Inc. (NASDAQ:BNZI) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 84,958 shares of the company’s stock, valued at approximately $52,000. Virtu Financial LLC owned about 0.42% of Banzai International as of its most recent SEC filing. Hedge funds and other 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.