Jet.AI Inc. (NASDAQ:JTAI) Stock Short Interest Drops 39.3%

Jet.AI Inc. (NASDAQ:JTAI) was the target of a large decrease in short interest in September. As of September 30th, there was short interest totaling 147,214 shares, a decrease of 39.3% from the September 15th total of 242,595 shares. Based on an average daily volume of 886,207 shares, the short-interest ratio is presently 0.2 days. Currently, 10.5% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

JTAI has been the topic of several research analyst reports. Wall Street Zen lowered Jet.AI from a “hold” rating to a “strong sell” rating in a research report on Saturday, October 3rd. Weiss Ratings downgraded shares of Jet.AI from a “sell (d)” rating to a “sell (d-)” rating in a research report on Friday, October 2nd. Finally, Zacks Research upgraded Jet.AI to a “hold” rating in a research note on Friday, October 2nd. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Reduce”.

Jet.AI Price Performance

NASDAQ JTAI traded down $0.04 during trading on Friday, reaching $1.18. The company’s stock had a trading volume of 126,893 shares, compared to its average volume of 515,383. The firm has a fifty day moving average of $1.49 and a 200 day moving average of $4.88. Jet.AI has a one year low of $1.12 and a one year high of $596.88. The stock has a market capitalization of $1.68 million, a PE ratio of 0.00 and a beta of -0.35.

Jet.AI (NASDAQ:JTAI) last announced its quarterly earnings data on Friday, August 14th. The company reported ($1.72) EPS for the quarter, missing the consensus estimate of ($0.19) by ($1.53). Jet.AI had a net margin of 49.49% and a negative return on equity of 34.68%. The firm had revenue of $5.32 million for the quarter, compared to the consensus estimate of $1.10 million. Research analysts expect that Jet.AI will post -8.52 earnings per share for the current fiscal year.

About Jet.AI

Jet.AI Inc (NASDAQ: JTAI) is a private aviation company that combines on-demand aircraft charter services with technology designed to simplify the process of booking and managing private flights. The company serves individuals, businesses and aircraft owners through a platform intended to connect travelers with available private aircraft and provide related aviation services.

Its offerings include a private aviation booking application, charter brokerage and aircraft management services.