ScanTech AI Systems (NASDAQ:STAI) Major Shareholder Sells $12,450.00 in Stock

ScanTech AI Systems Inc. (NASDAQ:STAI) major shareholder Global Asset Managemen Seaport sold 3,000 shares of the company’s stock in a transaction on Monday, December 22nd. The shares were sold at an average price of $4.15, for a total transaction of $12,450.00. Following the completion of the transaction, the insider owned 801,867 shares of the company’s stock, valued at $3,327,748.05. This represents a 0.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Global Asset Managemen Seaport also recently made the following trade(s):

• On Wednesday, December 17th, Global Asset Managemen Seaport sold 100 shares of ScanTech AI Systems stock. The stock was sold at an average price of $3.80, for a total value of $380.00.
• On Tuesday, December 16th, Global Asset Managemen Seaport sold 3,000 shares of ScanTech AI Systems stock. The shares were sold at an average price of $4.29, for a total value of $12,870.00.
• On Tuesday, October 28th, Global Asset Managemen Seaport sold 500 shares of ScanTech AI Systems stock. The shares were sold at an average price of $13.20, for a total transaction of $6,600.00.
• On Monday, October 27th, Global Asset Managemen Seaport sold 6,681 shares of ScanTech AI Systems stock. The shares were sold at an average price of $13.80, for a total transaction of $92,197.80.
• On Friday, October 10th, Global Asset Managemen Seaport sold 6,250 shares of ScanTech AI Systems stock. The stock was sold at an average price of $14.60, for a total transaction of $91,250.00.

ScanTech AI Systems Stock Performance

ScanTech AI Systems stock traded down $0.15 during midday trading on Monday, hitting $2.69. 102,286 shares of the company’s stock were exchanged, compared to its average volume of 293,117. The stock has a market cap of $10.11 million, a price-to-earnings ratio of -0.29 and a beta of -0.78. ScanTech AI Systems Inc. has a 12-month low of $2.60 and a 12-month high of $104.00. The firm’s 50 day simple moving average is $7.47 and its 200 day simple moving average is $9.91.

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

Institutional Trading of ScanTech AI Systems

Several hedge funds have recently modified their holdings of the business. Polar Asset Management Partners Inc. acquired a new position in ScanTech AI Systems during the first quarter worth $3,045,000. Goldman Sachs Group Inc. acquired a new stake in ScanTech AI Systems in the first quarter valued at $39,000. Finally, York Capital Management Global Advisors LLC purchased a new stake in shares of ScanTech AI Systems during the 2nd quarter worth $1,136,000. 74.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of ScanTech AI Systems in a report on Wednesday, October 8th. Wall Street Zen raised shares of ScanTech AI Systems to a “sell” rating in a research note on Saturday, December 20th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Sell”.

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.