Volato Group, Inc. (NYSEAMERICAN:SOAR) Sees Large Drop in Short Interest

Volato Group, Inc. (NYSEAMERICAN:SOAR) was the target of a large drop in short interest in the month of May. As of May 29th, there was short interest totaling 1,132,743 shares, a drop of 51.2% from the May 14th total of 2,319,315 shares. Currently, 4.9% of the company’s stock are sold short. Based on an average daily trading volume, of 3,529,388 shares, the days-to-cover ratio is currently 0.3 days.

Hedge Funds Weigh In On Volato Group

A hedge fund recently raised its stake in Volato Group stock. Geode Capital Management LLC raised its stake in Volato Group, Inc. (NYSEAMERICAN:SOAR) by 336.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 47,870 shares of the company’s stock after acquiring an additional 36,905 shares during the period. Geode Capital Management LLC owned 0.64% of Volato Group worth $31,000 as of its most recent SEC filing.

Volato Group Price Performance

Volato Group stock opened at $0.20 on Friday. The stock’s 50 day moving average price is $0.22 and its 200 day moving average price is $0.50. Volato Group has a one year low of $0.12 and a one year high of $4.36.

Volato Group (NYSEAMERICAN:SOAR) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($0.18) earnings per share (EPS) for the quarter. Volato Group had a negative return on equity of 16.55% and a net margin of 3.85%.The business had revenue of $1.00 million during the quarter.

About Volato Group

Volato Group, Inc operates as a private aviation company. It offers fractional ownership, aircraft management, jet cards, deposit, and charter programs. As of December 31, 2023, the company operated a fleet of 24 HondaJets and a managed fleet of 6 aircraft. Volato Group, Inc was founded in 2021 and is based in Chamblee, Georgia.