ScanTech AI Systems (NASDAQ:STAI) Stock Rating Upgraded by Wall Street Zen

ScanTech AI Systems (NASDAQ:STAI) was upgraded by analysts at Wall Street Zen to a “sell” rating in a research report issued to clients and investors on Saturday.

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of ScanTech AI Systems in a research note on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company has a consensus rating of “Sell”.

ScanTech AI Systems Price Performance

NASDAQ STAI opened at $3.20 on Friday. The company has a market cap of $12.03 million, a P/E ratio of -8.65 and a beta of -0.79. ScanTech AI Systems has a 12 month low of $3.04 and a 12 month high of $104.00. The company has a 50-day moving average of $8.23 and a 200-day moving average of $10.34.

ScanTech AI Systems (NASDAQ:STAI) last released its earnings results on Friday, December 12th. The company reported ($3.60) earnings per share (EPS) for the quarter. ScanTech AI Systems had a negative net margin of 477.09% and a negative return on equity of 11.25%. The company had revenue of $0.63 million during the quarter.

Insiders Place Their Bets

In other ScanTech AI Systems news, major shareholder Global Asset Managemen Seaport sold 6,681 shares of the business’s stock in a transaction that occurred on Monday, October 27th. The shares were sold at an average price of $13.80, for a total transaction of $92,197.80. Following the completion of the sale, the insider directly owned 808,467 shares in the company, valued at $11,156,844.60. The trade was a 0.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 16,531 shares of company stock worth $203,298 over the last 90 days. Insiders own 2.33% of the company’s stock.

Hedge Funds Weigh In On ScanTech AI Systems

A number of hedge funds have recently made changes to their positions in STAI. Goldman Sachs Group Inc. purchased a new stake in ScanTech AI Systems during the 1st quarter worth $39,000. York Capital Management Global Advisors LLC purchased a new stake in shares of ScanTech AI Systems in the second quarter worth about $1,136,000. Finally, Polar Asset Management Partners Inc. purchased a new stake in shares of ScanTech AI Systems in the first quarter worth about $3,045,000. Hedge funds and other institutional investors own 74.04% of the company’s stock.

About ScanTech AI Systems

Scantech AI Systems, Inc engages in the innovation, emerging technology, and machine learning expertise. ScanTech specializes in developing advanced screening technology that provides the most accurate and fastest detection of prohibited materials. The company was founded on September 5, 2023 and is headquartered in Buford, GA.