ScanTech AI Systems (NASDAQ:STAI) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of ScanTech AI Systems (NASDAQ:STAI) to a sell rating in a research report report published on Saturday morning.

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of ScanTech AI Systems in a research note on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Sell”.

ScanTech AI Systems Price Performance

ScanTech AI Systems stock opened at $3.92 on Friday. The stock’s 50 day moving average price is $8.10 and its 200 day moving average price is $10.26. ScanTech AI Systems has a 1-year low of $3.04 and a 1-year high of $104.00. The company has a market cap of $14.74 million, a PE ratio of -10.59 and a beta of -0.78.

ScanTech AI Systems (NASDAQ:STAI) last released its quarterly earnings data on Friday, December 12th. The company reported ($3.60) earnings per share (EPS) for the quarter. The business had revenue of $0.63 million during the quarter. ScanTech AI Systems had a negative return on equity of 11.25% and a negative net margin of 477.09%.

Insiders Place Their Bets

In other news, major shareholder Global Asset Managemen Seaport sold 6,681 shares of the firm’s stock in a transaction on Monday, October 27th. The stock was sold at an average price of $13.80, for a total value of $92,197.80. Following the completion of the transaction, the insider owned 808,467 shares in the company, valued at $11,156,844.60. This trade represents a 0.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold a total of 16,531 shares of company stock valued at $203,298 over the last quarter. 2.33% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ScanTech AI Systems

A number of large investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. purchased a new position in ScanTech AI Systems during the 1st quarter valued at about $39,000. York Capital Management Global Advisors LLC purchased a new stake in shares of ScanTech AI Systems in the second quarter valued at about $1,136,000. Finally, Polar Asset Management Partners Inc. acquired a new stake in shares of ScanTech AI Systems in the first quarter valued at approximately $3,045,000. 74.04% of the stock is owned by institutional investors and hedge funds.

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.