Jet.AI (NASDAQ:JTAI) Issues Quarterly Earnings Results, Misses Estimates By $1.53 EPS

Jet.AI (NASDAQ:JTAI) issued its earnings results on Friday. The company reported ($1.72) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($1.53), FiscalAI reports. Jet.AI had a net margin of 68.77% and a negative return on equity of 47.89%. The company had revenue of $5.32 million during the quarter, compared to analyst estimates of $1.10 million.

Jet.AI Stock Down 4.5%

Shares of NASDAQ:JTAI opened at $1.71 on Friday. Jet.AI has a twelve month low of $1.62 and a twelve month high of $800.00. The stock’s 50 day moving average is $4.66 and its 200-day moving average is $12.50. The firm has a market capitalization of $2.43 million, a price-to-earnings ratio of 0.01 and a beta of -0.31.

Analysts Set New Price Targets

JTAI has been the subject of several analyst reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Jet.AI in a research report on Tuesday, June 16th. Wall Street Zen lowered Jet.AI from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 16th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Jet.AI presently has an average rating of “Hold” and a consensus price target of $2,200.00.

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.