Short Interest in Jet.AI Inc. (NASDAQ:JTAI) Drops By 41.4%

Jet.AI Inc. (NASDAQ:JTAI) was the recipient of a large drop in short interest in the month of February. As of February 27th, there was short interest totaling 4,368,057 shares, a drop of 41.4% from the February 12th total of 7,448,554 shares. Approximately 11.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 23,378,002 shares, the short-interest ratio is currently 0.2 days. Based on an average daily trading volume, of 23,378,002 shares, the short-interest ratio is currently 0.2 days. Approximately 11.6% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Jet.AI in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Jet.AI has a consensus rating of “Hold” and an average price target of $11.00.

Jet.AI Stock Down 2.4%

NASDAQ:JTAI traded down $0.00 during trading hours on Friday, reaching $0.10. 7,793,586 shares of the company’s stock were exchanged, compared to its average volume of 19,822,816. The company has a market capitalization of $3.69 million, a P/E ratio of -0.48 and a beta of -0.15. Jet.AI has a 12 month low of $0.08 and a 12 month high of $6.35. The business’s 50-day simple moving average is $0.24 and its two-hundred day simple moving average is $1.60.

Jet.AI (NASDAQ:JTAI) last posted its quarterly earnings results on Friday, March 6th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.26). Jet.AI had a net margin of 50.00% and a negative return on equity of 70.43%. The company had revenue of $1.77 million during the quarter, compared to the consensus estimate of $1.00 million.

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.