Global Asset Managemen Seaport Sells 3,000 Shares of ScanTech AI Systems (NASDAQ:STAI) Stock

ScanTech AI Systems Inc. (NASDAQ:STAI) major shareholder Global Asset Managemen Seaport sold 3,000 shares of the business’s stock in a transaction dated Monday, December 22nd. The stock was sold at an average price of $4.15, for a total transaction of $12,450.00. Following the completion of the sale, the insider owned 801,867 shares in the company, valued at $3,327,748.05. This represents a 0.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Global Asset Managemen Seaport also recently made the following trade(s):

• On Wednesday, December 17th, Global Asset Managemen Seaport sold 100 shares of ScanTech AI Systems stock. The shares were sold at an average price of $3.80, for a total transaction of $380.00.
• On Tuesday, December 16th, Global Asset Managemen Seaport sold 3,000 shares of ScanTech AI Systems stock. The shares were sold at an average price of $4.29, for a total transaction of $12,870.00.
• On Tuesday, October 28th, Global Asset Managemen Seaport sold 500 shares of ScanTech AI Systems stock. The stock was sold at an average price of $13.20, for a total transaction of $6,600.00.
• On Monday, October 27th, Global Asset Managemen Seaport sold 6,681 shares of ScanTech AI Systems stock. The shares were sold at an average price of $13.80, for a total transaction of $92,197.80.
• On Friday, October 10th, Global Asset Managemen Seaport sold 6,250 shares of ScanTech AI Systems stock. The shares were sold at an average price of $14.60, for a total transaction of $91,250.00.

ScanTech AI Systems Price Performance

Shares of STAI opened at $2.32 on Wednesday. ScanTech AI Systems Inc. has a 1-year low of $2.32 and a 1-year high of $104.00. The stock has a market cap of $8.72 million, a price-to-earnings ratio of -0.25 and a beta of -0.79. The firm has a 50 day simple moving average of $7.12 and a 200-day simple moving average of $9.73.

ScanTech AI Systems (NASDAQ:STAI) last announced its earnings results on Friday, December 12th. The company reported ($3.60) 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 for the quarter.

Analysts Set New Price Targets

STAI has been the subject of several analyst reports. Wall Street Zen raised shares of ScanTech AI Systems to a “sell” rating in a research note on Saturday, December 20th. Weiss Ratings reiterated a “sell (e+)” rating on shares of ScanTech AI Systems in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, ScanTech AI Systems presently has an average rating of “Sell”.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. York Capital Management Global Advisors LLC purchased a new stake in ScanTech AI Systems in the second quarter valued at approximately $1,136,000. Polar Asset Management Partners Inc. purchased a new position in ScanTech AI Systems during the first quarter worth approximately $3,045,000. Finally, Goldman Sachs Group Inc. acquired a new position in shares of ScanTech AI Systems in the 1st quarter valued at $39,000. 74.04% of the stock is currently owned by hedge funds and other institutional investors.

ScanTech AI Systems Company Profile

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.