Jet.AI Inc. (NASDAQ:JTAI) Sees Large Drop in Short Interest

Jet.AI Inc. (NASDAQ:JTAI) was the target of a significant decline in short interest during the month of January. As of January 30th, there was short interest totaling 3,085,617 shares, a decline of 17.2% from the January 15th total of 3,724,788 shares. Based on an average daily volume of 16,597,691 shares, the days-to-cover ratio is currently 0.2 days. Currently, 8.2% of the shares of the stock are sold short. Currently, 8.2% of the shares of the stock are sold short. Based on an average daily volume of 16,597,691 shares, the days-to-cover ratio is currently 0.2 days.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Jet.AI in a report 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. Based on data from MarketBeat, Jet.AI has a consensus rating of “Hold” and an average price target of $11.00.

Jet.AI Stock Performance

NASDAQ:JTAI traded down $0.00 during trading hours on Monday, reaching $0.14. The company’s stock had a trading volume of 25,472,820 shares, compared to its average volume of 50,190,060. The firm has a market capitalization of $5.17 million, a price-to-earnings ratio of -0.04 and a beta of -0.17. The firm has a 50-day simple moving average of $0.62 and a 200-day simple moving average of $2.03. Jet.AI has a 1 year low of $0.13 and a 1 year high of $11.77.

Jet.AI (NASDAQ:JTAI) last posted its quarterly earnings results on Friday, November 14th. The company reported ($0.59) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.11). The company had revenue of $1.71 million for the quarter, compared to the consensus estimate of $2.10 million. Jet.AI had a negative return on equity of 107.36% and a negative net margin of 103.18%.

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.