ScanTech AI Systems (NASDAQ:STAI) Major Shareholder Global Asset Managemen Seaport Sells 70,000 Shares

ScanTech AI Systems Inc. (NASDAQ:STAI) major shareholder Global Asset Managemen Seaport sold 70,000 shares of the stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $0.49, for a total transaction of $34,300.00. Following the sale, the insider directly owned 731,867 shares in the company, valued at $358,614.83. This trade represents a 8.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Large shareholders that own at least 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 Monday, December 22nd, Global Asset Managemen Seaport sold 3,000 shares of ScanTech AI Systems stock. The shares were sold at an average price of $4.15, for a total transaction of $12,450.00.
• 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 transaction 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 transaction of $12,870.00.

ScanTech AI Systems Stock Performance

Shares of STAI traded up $0.02 during mid-day trading on Thursday, reaching $0.20. 214,763 shares of the company’s stock traded hands, compared to its average volume of 305,438. The business’s 50-day moving average price is $2.87 and its 200-day moving average price is $7.22. The stock has a market capitalization of $751,200.00, a P/E ratio of -0.02 and a beta of -0.47. ScanTech AI Systems Inc. has a 12 month low of $0.16 and a 12 month high of $104.00.

Institutional Investors Weigh In On ScanTech AI Systems

A hedge fund recently bought a new stake in ScanTech AI Systems stock. York Capital Management Global Advisors LLC purchased a new stake in ScanTech AI Systems Inc. (NASDAQ:STAI) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,700,000 shares of the company’s stock, valued at approximately $1,136,000. ScanTech AI Systems makes up about 1.2% of York Capital Management Global Advisors LLC’s investment portfolio, making the stock its 3rd biggest holding. York Capital Management Global Advisors LLC owned about 3.52% of ScanTech AI Systems at the end of the most recent reporting period. 74.04% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

STAI has been the subject of a number of recent research reports. Wall Street Zen raised ScanTech AI Systems to a “sell” rating in a report on Saturday, December 20th. Weiss Ratings reissued a “sell (e+)” rating on shares of ScanTech AI Systems in a research note on Thursday, January 22nd. One investment 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.