Jet.AI Inc. (NASDAQ:JTAI) Short Interest Update
by Jessica Moore · The Cerbat GemJet.AI Inc. (NASDAQ:JTAI – Get Free Report) saw a large increase in short interest in the month of March. As of March 31st, there was short interest totaling 12,791,343 shares, an increase of 297.2% from the March 15th total of 3,220,281 shares. Based on an average trading volume of 48,647,907 shares, the short-interest ratio is currently 0.3 days. Currently, 2,168.0% of the shares of the company are short sold.
Analysts Set New Price Targets
A number of research analysts have recently commented on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Jet.AI in a research report on Thursday, January 22nd. Wall Street Zen cut shares of Jet.AI to a “strong sell” rating in a research note on Saturday. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $2,200.00.
Read Our Latest Stock Analysis on JTAI
Jet.AI Stock Down 8.2%
Shares of NASDAQ JTAI traded down $0.54 during mid-day trading on Friday, reaching $6.06. 344,139 shares of the company were exchanged, compared to its average volume of 579,461. The company’s 50-day simple moving average is $21.08 and its 200-day simple moving average is $226.89. The stock has a market capitalization of $3.64 million, a P/E ratio of -0.15 and a beta of -0.09. Jet.AI has a twelve month low of $5.00 and a twelve month high of $940.00.
Jet.AI (NASDAQ:JTAI – Get Free Report) last posted its earnings results on Friday, March 6th. The company reported ($0.62) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($72.00) by $71.38. The company had revenue of $1.77 million during the quarter, compared to analysts’ expectations of $1.00 million. Jet.AI had a net margin of 50.00% and a negative return on equity of 70.43%.
Jet.AI announced that its board has initiated a share repurchase program on Tuesday, March 17th that authorizes the company to buyback $5.00 million in shares. This buyback authorization authorizes the company to reacquire up to 44.1% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board 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.