Jet.AI (NASDAQ:JTAI) Releases Quarterly Earnings Results

Jet.AI (NASDAQ:JTAI) issued its quarterly earnings results on Friday. The company reported ($1.72) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($1.53), FiscalAI reports. Jet.AI had a net margin of 68.77% and a negative return on equity of 47.89%. The business had revenue of $5.32 million for the quarter, compared to the consensus estimate of $1.10 million.

Jet.AI Price Performance

NASDAQ JTAI traded down $0.08 during trading hours on Friday, reaching $1.71. 144,152 shares of the stock traded hands, compared to its average volume of 576,269. The stock has a 50 day simple moving average of $4.66 and a two-hundred day simple moving average of $12.50. Jet.AI has a 1 year low of $1.62 and a 1 year high of $800.00. The company has a market cap of $2.43 million, a price-to-earnings ratio of 0.01 and a beta of -0.31.

Analysts Set New Price Targets

Several research analysts recently weighed in on JTAI shares. Wall Street Zen cut shares of Jet.AI from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 16th. Weiss Ratings reissued a “sell (d)” rating on shares of Jet.AI in a research note on Tuesday, June 16th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Jet.AI has a consensus rating of “Hold” and a consensus price target of $2,200.00.

About Jet.AI

Jet.AI Inc primarily engages in the development and operation of private aviation platforms. The company operates CharterGPT, a booking platform that functions as a prospecting and quoting platform to arrange private jet travel with its aircrafts and third-party carriers. It also provides Reroute AI software that recycles aircraft waiting to return to base into prospective new charter bookings to destinations within specific distances; and DynoFlight, a software application programming interface (API), which enables aircraft operators to track and estimate emissions, and purchase carbon offset credits.