Saba Capital Management L.P. Buys 1,309,236 Shares of SkyAI, Inc. Common Stock $SKYA

Saba Capital Management L.P. grew its position in SkyAI, Inc. Common Stock (NASDAQ:SKYA) by 645.7% in the 1st quarter, HoldingsChannel.com reports. The firm owned 1,511,988 shares of the company’s stock after purchasing an additional 1,309,236 shares during the period. Saba Capital Management L.P.’s holdings in SkyAI, Inc. Common Stock were worth $2,540,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Schonfeld Strategic Advisors LLC purchased a new position in shares of SkyAI, Inc. Common Stock during the 3rd quarter valued at $9,404,000. Pantera Capital Partners LP bought a new position in shares of SkyAI, Inc. Common Stock in the 3rd quarter worth $7,498,000. Arrington Capital Management LLC bought a new position in shares of SkyAI, Inc. Common Stock in the 4th quarter worth $1,874,000. HBK Investments L P purchased a new stake in shares of SkyAI, Inc. Common Stock during the 4th quarter valued at $1,448,000. Finally, Feynman Point Asset Management LLC purchased a new position in SkyAI, Inc. Common Stock in the fourth quarter worth $1,121,000. Institutional investors own 17.17% of the company’s stock.

SkyAI, Inc. Common Stock Stock Performance

Shares of SKYA stock opened at $1.32 on Tuesday. The firm has a market cap of $55.86 million, a P/E ratio of -0.81 and a beta of 2.10. SkyAI, Inc. Common Stock has a fifty-two week low of $0.91 and a fifty-two week high of $18.23. The business’s 50 day moving average price is $1.29 and its 200-day moving average price is $1.66.

SkyAI, Inc. Common Stock (NASDAQ:SKYA) last announced its earnings results on Thursday, May 14th. The company reported ($1.19) EPS for the quarter. The company had revenue of $0.19 million during the quarter.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Wall Street Zen lowered SkyAI, Inc. Common Stock from a “hold” rating to a “sell” rating in a research note on Monday, May 18th. Weiss Ratings reiterated a “sell (e+)” rating on shares of SkyAI, Inc. Common Stock in a research report on Friday, July 17th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has an average rating of “Sell”.

About SkyAI, Inc. Common Stock

Sharps Technology (NASDAQ:STSS) is an insurtech company specializing in technology-enabled subrogation recovery services for property and casualty insurers. The company’s flagship platform combines process automation, data analytics and digital workflow tools to help carriers and third-party administrators identify, manage and recover funds from liable third parties. By streamlining the subrogation lifecycle—from claim intake through recovery—Sharps delivers greater transparency, faster turnaround times and improved recovery rates for its clients.

Since its initial public offering in late 2021, Sharps Technology has focused on expanding its presence across the United States.