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

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on JTAI shares. 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 Jet.AI from a “sell (d)” rating to a “sell (d-)” rating in a report on Friday, October 2nd. Finally, Zacks Research raised Jet.AI to a “hold” rating in a research note on Friday, October 2nd. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Reduce”.

Jet.AI Trading Down 2.9%

NASDAQ:JTAI opened at $1.18 on Friday. The company has a 50-day moving average price of $1.48 and a 200-day moving average price of $4.85. The stock has a market cap of $1.68 million, a price-to-earnings ratio of 0.00 and a beta of -0.35. Jet.AI has a 12 month low of $1.12 and a 12 month high of $596.88.

Jet.AI (NASDAQ:JTAI) last announced its quarterly earnings results on Friday, August 14th. The company reported ($1.72) earnings per share (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 company had revenue of $5.32 million for the quarter, compared to analysts’ expectations of $1.10 million. Equities analysts forecast that Jet.AI will post -8.52 EPS for the current fiscal year.

Jet.AI Company Profile

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.