ScanTech AI Systems Inc. (NASDAQ:STAI) Short Interest Down 96.0% in December

ScanTech AI Systems Inc. (NASDAQ:STAI) was the target of a large decline in short interest in December. As of December 31st, there was short interest totaling 81,630 shares, a decline of 96.0% from the December 15th total of 2,045,636 shares. Based on an average daily volume of 107,662 shares, the days-to-cover ratio is presently 0.8 days. Approximately 2.2% of the company’s stock are sold short. Approximately 2.2% of the company’s stock are sold short. Based on an average daily volume of 107,662 shares, the days-to-cover ratio is presently 0.8 days.

ScanTech AI Systems Stock Up 1.8%

Shares of ScanTech AI Systems stock opened at $2.90 on Wednesday. The company has a market cap of $10.90 million, a P/E ratio of -0.32 and a beta of -0.49. The firm’s 50 day moving average price is $5.55 and its 200-day moving average price is $8.94. ScanTech AI Systems has a 52-week low of $2.32 and a 52-week high of $104.00.

ScanTech AI Systems (NASDAQ:STAI) last announced its earnings results on Friday, December 12th. The company reported ($3.60) earnings per share for the quarter. ScanTech AI Systems had a negative net margin of 477.09% and a negative return on equity of 11.25%. The firm had revenue of $0.63 million during the quarter.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Wall Street Zen raised shares of ScanTech AI Systems to a “sell” rating in a research note on Saturday, December 20th. Weiss Ratings reiterated a “sell (e+)” rating on shares of ScanTech AI Systems in a report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has a consensus rating of “Sell”.

Insider Activity at ScanTech AI Systems

In other news, major shareholder Global Asset Managemen Seaport sold 6,681 shares of the company’s stock in a transaction that occurred on Monday, October 27th. The shares were sold at an average price of $13.80, for a total value of $92,197.80. Following the completion of the sale, the insider owned 808,467 shares of the company’s stock, valued at approximately $11,156,844.60. This represents a 0.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders have sold 13,281 shares of company stock valued at $124,498. Insiders own 2.33% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in ScanTech AI Systems stock. Goldman Sachs Group Inc. bought a new stake in shares of ScanTech AI Systems Inc. (NASDAQ:STAI) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 18,969 shares of the company’s stock, valued at approximately $39,000. Goldman Sachs Group Inc. owned approximately 0.42% of ScanTech AI Systems at the end of the most recent reporting period. Institutional investors own 74.04% of the company’s stock.

ScanTech AI Systems Company Profile

Scantech AI Systems, Inc engages in the innovation, emerging technology, and machine learning expertise. ScanTech specializes in developing advanced screening technology that provides the most accurate and fastest detection of prohibited materials. The company was founded on September 5, 2023 and is headquartered in Buford, GA.