Jet.AI (NASDAQ:JTAI) Downgraded to Strong Sell Rating by Wall Street Zen

Wall Street Zen downgraded shares of Jet.AI (NASDAQ:JTAI) from a sell rating to a strong sell rating in a research report released on Saturday morning.

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Jet.AI in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $2,200.00.

Jet.AI Stock Up 1.8%

JTAI opened at $6.96 on Friday. Jet.AI has a 12-month low of $5.00 and a 12-month high of $940.00. The stock has a market cap of $4.18 million, a price-to-earnings ratio of 0.02 and a beta of -0.48. The business has a 50 day moving average of $12.29 and a 200-day moving average of $132.90.

Jet.AI (NASDAQ:JTAI) last released its quarterly earnings data on Thursday, May 14th. The company reported ($6.68) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.00) by ($4.68). Jet.AI had a net margin of 68.77% and a negative return on equity of 66.30%. The business had revenue of $1.68 million during the quarter, compared to analyst estimates of $1.70 million.

Jet.AI announced that its board has authorized a stock buyback program on Tuesday, March 17th that permits the company to buyback $5.00 million in shares. This buyback authorization permits the company to purchase up to 44.1% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.

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.