Jet.AI Inc. (NASDAQ:JTAI) Sees Large Decline in Short Interest

Jet.AI Inc. (NASDAQ:JTAI) was the recipient of a large decrease in short interest during the month of September. As of September 30th, there was short interest totaling 147,214 shares, a decrease of 39.3% from the September 15th total of 242,595 shares. Approximately 10.5% of the shares of the stock are short sold. Based on an average daily trading volume, of 886,207 shares, the days-to-cover ratio is currently 0.2 days.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on JTAI. Wall Street Zen cut shares of Jet.AI from a “hold” rating to a “strong sell” rating in a research note on Saturday, October 3rd. Zacks Research upgraded Jet.AI to a “hold” rating in a report on Friday, October 2nd. Finally, Weiss Ratings lowered shares of Jet.AI from a “sell (d)” rating to a “sell (d-)” rating in a research note on Friday, October 2nd. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Reduce”.

Jet.AI Stock Performance

Shares of JTAI traded down $0.04 during trading hours on Friday, hitting $1.18. 126,893 shares of the company were exchanged, compared to its average volume of 515,383. Jet.AI has a 52 week low of $1.12 and a 52 week high of $596.88. The company has a market cap of $1.68 million, a PE ratio of 0.00 and a beta of -0.35. The firm’s 50 day moving average is $1.49 and its 200-day moving average is $4.88.

Jet.AI (NASDAQ:JTAI) last issued its earnings results on Friday, August 14th. The company reported ($1.72) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($1.53). The company had revenue of $5.32 million during the quarter, compared to analyst estimates of $1.10 million. Jet.AI had a negative return on equity of 34.68% and a net margin of 49.49%. As a group, equities analysts forecast that Jet.AI will post -8.52 earnings per share for the current fiscal year.

About Jet.AI

Jet.AI Inc (NASDAQ: JTAI) is a private aviation company that combines on-demand aircraft charter services with technology designed to simplify the process of booking and managing private flights. The company serves individuals, businesses and aircraft owners through a platform intended to connect travelers with available private aircraft and provide related aviation services.

Its offerings include a private aviation booking application, charter brokerage and aircraft management services.