Jet.AI (NASDAQ:JTAI) Posts Earnings Results, Misses Expectations By $4.68 EPS

Jet.AI (NASDAQ:JTAI) posted its earnings results on Thursday. The company reported ($6.68) EPS for the quarter, missing analysts’ consensus estimates of ($2.00) by ($4.68), FiscalAI reports. The firm had revenue of $1.68 million during the quarter, compared to analysts’ expectations of $1.70 million. Jet.AI had a negative return on equity of 66.30% and a net margin of 68.77%.

Jet.AI Stock Performance

JTAI stock traded up $0.12 during midday trading on Friday, reaching $6.96. 157,112 shares of the company traded hands, compared to its average volume of 441,539. Jet.AI has a 52-week low of $5.00 and a 52-week high of $940.00. The business has a 50 day moving average of $12.29 and a 200-day moving average of $132.90. The firm has a market capitalization of $4.15 million, a price-to-earnings ratio of 0.02 and a beta of -0.48.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on JTAI shares. Wall Street Zen downgraded Jet.AI from a “sell” rating to a “strong sell” rating in a research report on Saturday. Weiss Ratings reiterated a “sell (e+)” rating on shares of Jet.AI in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $2,200.00.

Jet.AI announced that its Board of Directors has initiated a share repurchase plan on Tuesday, March 17th that authorizes the company to buyback $5.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 44.1% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Jet.AI Company Profile

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.