Short Interest in Jet.AI Inc. (NASDAQ:JTAI) Drops By 41.4%

Jet.AI Inc. (NASDAQ:JTAI) was the recipient of a large drop in short interest in February. As of February 27th, there was short interest totaling 4,368,057 shares, a drop of 41.4% from the February 12th total of 7,448,554 shares. Currently, 11.6% of the company’s shares are short sold. Based on an average daily volume of 23,378,002 shares, the days-to-cover ratio is currently 0.2 days. Based on an average daily volume of 23,378,002 shares, the days-to-cover ratio is currently 0.2 days. Currently, 11.6% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Jet.AI in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Jet.AI has a consensus rating of “Hold” and an average target price of $11.00.

Jet.AI Trading Down 2.4%

NASDAQ:JTAI traded down $0.00 during trading hours on Friday, hitting $0.10. 7,793,586 shares of the stock traded hands, compared to its average volume of 19,822,816. The firm has a 50 day moving average price of $0.24 and a 200 day moving average price of $1.60. The firm has a market cap of $3.69 million, a price-to-earnings ratio of -0.48 and a beta of -0.15. Jet.AI has a fifty-two week low of $0.08 and a fifty-two week high of $6.35.

Jet.AI (NASDAQ:JTAI) last issued its earnings results on Friday, March 6th. The company reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.26). Jet.AI had a negative return on equity of 70.43% and a net margin of 50.00%.The business had revenue of $1.77 million during the quarter, compared to analyst estimates of $1.00 million.

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.