ScanTech AI Systems (NASDAQ:STAI) Posts Earnings Results

ScanTech AI Systems (NASDAQ:STAI) issued its quarterly earnings data on Wednesday. The company reported ($0.09) earnings per share for the quarter, Zacks reports.

ScanTech AI Systems Trading Down 9.8%

NASDAQ STAI opened at $0.44 on Thursday. The company has a 50 day moving average price of $0.54 and a 200 day moving average price of $1.11. ScanTech AI Systems has a 52 week low of $0.35 and a 52 week high of $5.20.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut ScanTech AI Systems from a “hold” rating to a “sell” rating in a research note on Saturday, August 2nd.

Insider Transactions at ScanTech AI Systems

In other ScanTech AI Systems news, major shareholder Global Asset Managemen Seaport sold 110,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $0.95, for a total transaction of $104,500.00. Following the transaction, the insider owned 16,542,973 shares in the company, valued at approximately $15,715,824.35. This represents a 0.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 22.77% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in ScanTech AI Systems stock. Goldman Sachs Group Inc. purchased a new stake in shares of ScanTech AI Systems Inc. (NASDAQ:STAI) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 18,969 shares of the company’s stock, valued at approximately $39,000. Goldman Sachs Group Inc. owned approximately 0.42% of ScanTech AI Systems at the end of the most recent quarter. 74.04% of the stock is owned by institutional investors.

About ScanTech AI Systems

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.