ScanTech AI Systems (NASDAQ:STAI) Upgraded to Sell at Wall Street Zen

Wall Street Zen upgraded shares of ScanTech AI Systems (NASDAQ:STAI) to a sell rating in a report issued on Saturday.

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of ScanTech AI Systems in a report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has an average rating of “Sell”.

ScanTech AI Systems Stock Up 0.6%

ScanTech AI Systems stock opened at $3.20 on Friday. The business’s 50-day simple moving average is $8.23 and its 200 day simple moving average is $10.38. The stock has a market cap of $12.03 million, a price-to-earnings ratio of -8.65 and a beta of -0.79. ScanTech AI Systems has a 12-month low of $3.04 and a 12-month high of $104.00.

ScanTech AI Systems (NASDAQ:STAI) last released its earnings results on Friday, December 12th. The company reported ($3.60) earnings per share (EPS) for the quarter. The business had revenue of $0.63 million for the quarter. ScanTech AI Systems had a negative net margin of 477.09% and a negative return on equity of 11.25%.

Insider Activity

In other news, major shareholder Global Asset Managemen Seaport sold 6,681 shares of the business’s stock in a transaction dated Monday, October 27th. The stock was sold at an average price of $13.80, for a total transaction of $92,197.80. Following the completion of the transaction, the insider directly owned 808,467 shares in the company, valued at approximately $11,156,844.60. The trade was a 0.82% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders sold 16,531 shares of company stock worth $203,298. 2.33% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. York Capital Management Global Advisors LLC acquired a new position in ScanTech AI Systems during the second quarter valued at approximately $1,136,000. Polar Asset Management Partners Inc. acquired a new stake in ScanTech AI Systems in the first quarter worth $3,045,000. Finally, Goldman Sachs Group Inc. bought a new position in shares of ScanTech AI Systems during the first quarter worth $39,000. Institutional investors own 74.04% of the company’s stock.

About ScanTech AI Systems

Scantech AI Systems, Inc engages in the innovation, emerging technology, and machine learning expertise. ScanTech specializes in developing advanced screening technology that provides the most accurate and fastest detection of prohibited materials. The company was founded on September 5, 2023 and is headquartered in Buford, GA.