Jet.AI (NASDAQ:JTAI) Issues Earnings Results

Jet.AI (NASDAQ:JTAI) released its quarterly earnings data on Thursday. The company reported ($6.68) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.00) by ($4.68), FiscalAI reports. Jet.AI had a net margin of 50.00% and a negative return on equity of 70.43%. The firm had revenue of $1.68 million during the quarter, compared to analysts’ expectations of $1.70 million.

Jet.AI Stock Performance

Shares of JTAI stock traded up $0.12 on Friday, reaching $6.96. 157,112 shares of the company were exchanged, compared to its average volume of 340,642. The company has a market cap of $4.18 million, a price-to-earnings ratio of -0.17 and a beta of -0.48. The business has a 50-day moving average price of $12.62 and a 200 day moving average price of $133.79. Jet.AI has a 1 year low of $5.00 and a 1 year high of $940.00.

Jet.AI announced that its board has approved a share repurchase program on Tuesday, March 17th that authorizes the company to buyback $5.00 million in shares. This buyback authorization authorizes the company to reacquire up to 44.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on JTAI shares. Wall Street Zen raised shares of Jet.AI from a “strong sell” rating to a “sell” rating in a report on Sunday, April 19th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Jet.AI in a report on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $2,200.00.

Jet.AI Company Profile

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.