Jet.AI Inc. (NASDAQ:JTAI) Short Interest Update

Jet.AI Inc. (NASDAQ:JTAI) was the target of a large decline in short interest during the month of June. As of June 15th, there was short interest totaling 68,679 shares, a decline of 38.4% from the May 31st total of 111,469 shares. Approximately 4.9% of the company’s stock are short sold. Based on an average daily volume of 230,851 shares, the short-interest ratio is currently 0.3 days.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on JTAI shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Jet.AI in a report on Tuesday, June 16th. Wall Street Zen downgraded Jet.AI from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 16th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $2,200.00.

Jet.AI Price Performance

Shares of JTAI stock remained flat at $7.79 on Friday. The company had a trading volume of 205,322 shares, compared to its average volume of 160,236. The firm has a market cap of $11.06 million, a P/E ratio of 0.02 and a beta of -0.37. The company has a 50-day simple moving average of $7.29 and a 200 day simple moving average of $40.51. Jet.AI has a one year low of $5.00 and a one year high of $804.00.

Jet.AI (NASDAQ:JTAI) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($6.68) EPS for the quarter, missing the consensus estimate of ($2.00) by ($4.68). The business had revenue of $1.68 million for the quarter, compared to analysts’ expectations of $1.70 million. Jet.AI had a negative return on equity of 47.89% and a net margin of 68.77%.

Jet.AI announced that its board has authorized a share buyback plan on Tuesday, March 17th that permits the company to buyback $5.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 44.1% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

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.