Jet.AI (NASDAQ:JTAI) Posts Quarterly Earnings Results, Misses Estimates By $4.68 EPS

Jet.AI (NASDAQ:JTAI) posted its quarterly earnings data on Thursday. The company reported ($6.68) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.00) by ($4.68), FiscalAI reports. Jet.AI had a net margin of 50.00% and a negative return on equity of 70.43%. The business had revenue of $1.68 million for the quarter, compared to the consensus estimate of $1.70 million.

Jet.AI Price Performance

JTAI stock traded up $0.55 during midday trading on Thursday, hitting $6.84. The stock had a trading volume of 85,836 shares, compared to its average volume of 448,023. The firm has a market cap of $4.10 million, a price-to-earnings ratio of -0.17 and a beta of -0.48. The business has a 50-day moving average of $12.62 and a two-hundred day moving average of $133.79. Jet.AI has a 52-week low of $5.00 and a 52-week high of $940.00.

Analysts Set New Price Targets

JTAI has been the topic of a number of analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Jet.AI in a research report on Thursday, January 22nd. Wall Street Zen upgraded Jet.AI from a “strong sell” rating to a “sell” rating in a research report on Sunday, April 19th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $2,200.00.

Jet.AI declared that its board has approved a share buyback plan on Tuesday, March 17th that permits the company to repurchase $5.00 million in shares. This repurchase authorization permits the company to buy up to 44.1% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership 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.