Jet.AI Inc. (NASDAQ:JTAI) Sees Large Drop in Short Interest

Jet.AI Inc. (NASDAQ:JTAI) was the recipient of a significant decline in short interest in the month of January. As of January 30th, there was short interest totaling 3,085,617 shares, a decline of 17.2% from the January 15th total of 3,724,788 shares. Based on an average trading volume of 16,597,691 shares, the days-to-cover ratio is presently 0.2 days. Currently, 8.2% of the company’s shares are sold short. Currently, 8.2% of the company’s shares are sold short. Based on an average trading volume of 16,597,691 shares, the days-to-cover ratio is presently 0.2 days.

Jet.AI Stock Performance

Shares of NASDAQ JTAI traded down $0.00 during midday trading on Monday, hitting $0.14. 25,472,820 shares of the company traded hands, compared to its average volume of 50,190,060. Jet.AI has a 12-month low of $0.13 and a 12-month high of $11.77. The stock has a 50-day moving average price of $0.62 and a 200 day moving average price of $2.03. The firm has a market cap of $5.17 million, a P/E ratio of -0.04 and a beta of -0.17.

Jet.AI (NASDAQ:JTAI) last issued its quarterly earnings data on Friday, November 14th. The company reported ($0.59) EPS for the quarter, missing the consensus estimate of ($0.48) by ($0.11). Jet.AI had a negative return on equity of 107.36% and a negative net margin of 103.18%.The company had revenue of $1.71 million during the quarter, compared to analysts’ expectations of $2.10 million.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Jet.AI in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $11.00.

About Jet.AI

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.