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

Banzai International, Inc. (NASDAQ:BNZI) was the recipient of a significant decrease in short interest in the month of September. As of September 15th, there was short interest totalling 12,800 shares, a decrease of 99.1% from the August 31st total of 1,410,000 shares. Approximately 2.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,970,000 shares, the short-interest ratio is currently 0.0 days.

Insider Activity

In other news, major shareholder Alco Investment Co acquired 282,420 shares of Banzai International stock in a transaction that occurred on Friday, September 20th. The stock was bought 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. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 57.70% of the company’s stock.

Hedge Funds Weigh In On Banzai International

A hedge fund recently bought a new stake in Banzai International stock. Sandia Investment Management LP purchased a new stake in shares of Banzai International, Inc. (NASDAQ:BNZI) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 41,251 shares of the company’s stock, valued at approximately $25,000. Sandia Investment Management LP owned about 0.21% 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 Trading Down 5.8 %

BNZI traded down $0.35 on Friday, reaching $5.73. The company had a trading volume of 703,005 shares, compared to its average volume of 744,846. Banzai International has a 52-week low of $2.42 and a 52-week high of $828.50. The business has a 50 day simple moving average of $0.76 and a 200 day simple moving average of $0.48.

Banzai International (NASDAQ:BNZI) last posted its quarterly earnings data on Wednesday, August 14th. The company reported ($0.15) earnings per share for the quarter. The firm had revenue of $1.07 million for the quarter. Sell-side analysts forecast that Banzai International will post -25.5 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Ascendiant Capital Markets lowered their price target on Banzai International from $3.25 to $2.50 and set a “buy” rating on the stock in a 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.