Short Interest in Jet.AI Inc. (NASDAQ:JTAI) Drops By 17.2%

Jet.AI Inc. (NASDAQ:JTAI) was the target of a large drop in short interest in the month of January. As of January 30th, there was short interest totaling 3,085,617 shares, a drop of 17.2% from the January 15th total of 3,724,788 shares. Based on an average trading volume of 16,597,691 shares, the short-interest ratio is presently 0.2 days. Approximately 8.2% of the shares of the company are short sold. Approximately 8.2% of the shares of the company are short sold. Based on an average trading volume of 16,597,691 shares, the short-interest ratio is presently 0.2 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Jet.AI in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $11.00.

Jet.AI Price Performance

Shares of JTAI traded down $0.03 during midday trading on Tuesday, reaching $0.10. The stock had a trading volume of 37,661,725 shares, compared to its average volume of 50,190,060. The company has a market capitalization of $3.86 million, a P/E ratio of -0.03 and a beta of -0.18. The firm’s 50 day moving average price is $0.56 and its 200-day moving average price is $1.98. Jet.AI has a 52 week low of $0.09 and a 52 week high of $11.77.

Jet.AI (NASDAQ:JTAI) last released its earnings results on Friday, November 14th. The company reported ($0.59) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.11). Jet.AI had a negative return on equity of 107.36% and a negative net margin of 103.18%.The firm had revenue of $1.71 million for the quarter, compared to analyst estimates of $2.10 million.

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.