Jet.AI (NASDAQ:JTAI) Stock Price Down 13.2% – What’s Next?

Shares of Jet.AI Inc. (NASDAQ:JTAI) fell 13.2% during trading on Thursday . The company traded as low as $2.07 and last traded at $2.10. 348,129 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 2,423,872 shares. The stock had previously closed at $2.42.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Wall Street Zen lowered 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 analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $2,200.00.

Jet.AI Stock Performance

The company has a market capitalization of $2.90 million, a P/E ratio of 0.01 and a beta of -0.37. The company’s fifty day simple moving average is $6.41 and its 200-day simple moving average is $22.12.

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 net margin of 68.77% and a negative return on equity of 47.89%.

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.