Jet.AI (NASDAQ:JTAI) Releases Quarterly Earnings Results, Misses Estimates By $1.53 EPS

Jet.AI (NASDAQ:JTAI) posted its quarterly earnings results on Friday. The company reported ($1.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($1.53), FiscalAI reports. The company had revenue of $5.32 million during the quarter, compared to analysts’ expectations of $1.10 million. Jet.AI had a negative return on equity of 47.89% and a net margin of 68.77%.

Jet.AI Price Performance

Shares of Jet.AI stock traded down $0.08 during trading on Friday, reaching $1.71. 144,152 shares of the stock traded hands, compared to its average volume of 397,297. Jet.AI has a 52-week low of $1.62 and a 52-week high of $800.00. The business has a fifty day simple moving average of $4.66 and a two-hundred day simple moving average of $12.50. The company has a market capitalization of $2.43 million, a price-to-earnings ratio of 0.01 and a beta of -0.31.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Weiss Ratings reiterated a “sell (d)” rating on shares of Jet.AI in a research note on Tuesday, June 16th. Wall Street Zen lowered Jet.AI from a “sell” rating to a “strong sell” rating in a report on Saturday, May 16th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $2,200.00.

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.