Jet.AI (NASDAQ:JTAI) Announces Earnings Results, Misses Estimates By $0.26 EPS

Jet.AI (NASDAQ:JTAI) posted its quarterly earnings data on Friday. The company reported ($0.62) earnings per share for the quarter, missing the consensus estimate of ($0.36) by ($0.26), Zacks reports. The firm had revenue of $1.77 million for the quarter, compared to the consensus estimate of $1.00 million. Jet.AI had a negative return on equity of 107.36% and a negative net margin of 103.18%.

Jet.AI Trading Down 7.7%

Shares of Jet.AI stock opened at $0.11 on Friday. The firm’s 50 day moving average is $0.29 and its 200 day moving average is $1.71. The firm has a market capitalization of $4.05 million, a PE ratio of -0.53 and a beta of -0.15. Jet.AI has a 1 year low of $0.09 and a 1 year high of $6.35.

Analyst Upgrades and Downgrades

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 assigned a Sell rating to the stock. Based on data from MarketBeat, Jet.AI currently has a consensus rating of “Hold” and an average price target of $11.00.

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.