Jet.AI Inc. (NASDAQ:JTAI) Short Interest Up 78.3% in October

Jet.AI Inc. (NASDAQ:JTAI) was the target of a large increase in short interest in October. As of October 15th, there was short interest totaling 210,200 shares, an increase of 78.3% from the September 30th total of 117,900 shares. Currently, 6.1% of the company’s stock are short sold. Based on an average daily volume of 107,100 shares, the short-interest ratio is currently 2.0 days. Based on an average daily volume of 107,100 shares, the short-interest ratio is currently 2.0 days. Currently, 6.1% of the company’s stock are short sold.

Jet.AI Price Performance

Shares of NASDAQ JTAI opened at $2.41 on Monday. The stock has a market capitalization of $8.44 million, a P/E ratio of -0.05 and a beta of -0.22. Jet.AI has a 1-year low of $2.27 and a 1-year high of $16.56. The business has a fifty day moving average price of $3.12 and a 200 day moving average price of $3.52.

Jet.AI (NASDAQ:JTAI) last issued its quarterly earnings data on Thursday, August 14th. The company reported ($0.92) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.64) by ($0.28). The company had revenue of $2.23 million for the quarter, compared to analysts’ expectations of $3.75 million. Jet.AI had a negative return on equity of 179.13% and a negative net margin of 92.55%.

Analyst Ratings Changes

A number of brokerages have weighed in on JTAI. Maxim Group decreased their target price on Jet.AI from $20.00 to $11.00 and set a “buy” rating for the company in a research report on Wednesday, August 20th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Jet.AI in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $11.00.

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.