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

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

Insider Transactions at Banzai International

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 value of $2,631,172.86. Following the completion of the sale, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, major shareholder Cp Bf Lending, Llc sold 635,549 shares of Banzai International 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 owns 4 shares in the company, valued at $16.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Alco Investment Co acquired 282,420 shares of the firm’s stock in a transaction that occurred 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 acquisition, the insider now directly owns 330,340 shares in the company, valued at $1,285,022.60. This represents a 500.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 49.90% of the company’s stock.

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 Banzai International, Inc. (NASDAQ:BNZI) in the first quarter, according to its most recent filing with the SEC. The firm 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 as of its most recent SEC filing. 96.82% of the stock is currently owned by hedge funds and other institutional investors.

Banzai International Trading Down 8.0 %

NASDAQ BNZI traded down $0.22 during trading on Tuesday, reaching $2.52. 118,545 shares of the company’s stock traded hands, compared to its average volume of 940,777. The company’s 50 day simple moving average is $4.36 and its two-hundred day simple moving average is $8.55. Banzai International has a 12-month low of $2.42 and a 12-month high of $828.50.

Banzai International (NASDAQ:BNZI) last issued its quarterly earnings data 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 analysts forecast that Banzai International will post -25.5 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Ascendiant Capital Markets cut their target price on shares of 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.