SkyAI, Inc. Common Stock (NASDAQ:SKYA) Sees Large Growth in Short Interest

SkyAI, Inc. Common Stock (NASDAQ:SKYA) was the target of a significant growth in short interest in July. As of July 15th, there was short interest totaling 1,014,055 shares, a growth of 112.5% from the June 30th total of 477,230 shares. Currently, 3.0% of the shares of the stock are short sold. Based on an average daily volume of 132,493 shares, the short-interest ratio is presently 7.7 days.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SKYA. Saba Capital Management L.P. increased its stake in SkyAI, Inc. Common Stock by 645.7% during the first quarter. Saba Capital Management L.P. now owns 1,511,988 shares of the company’s stock worth $2,540,000 after acquiring an additional 1,309,236 shares during the last quarter. Cannell & Spears LLC purchased a new position in shares of SkyAI, Inc. Common Stock during the 1st quarter worth $141,000. Aristides Capital LLC purchased a new position in shares of SkyAI, Inc. Common Stock during the 4th quarter worth $25,000. Feynman Point Asset Management LLC acquired a new stake in shares of SkyAI, Inc. Common Stock during the 4th quarter worth about $1,121,000. Finally, Arrington Capital Management LLC acquired a new stake in shares of SkyAI, Inc. Common Stock during the 4th quarter worth about $1,874,000. 17.17% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

SkyAI, Inc. Common Stock Trading Down 0.2%

SKYA stock traded down $0.00 during trading on Thursday, reaching $1.37. 13,420 shares of the stock were exchanged, compared to its average volume of 426,546. The firm has a market capitalization of $57.87 million, a price-to-earnings ratio of -0.84 and a beta of 2.10. The business has a 50 day moving average price of $1.28 and a 200-day moving average price of $1.65. SkyAI, Inc. Common Stock has a 1 year low of $0.91 and a 1 year high of $18.23.

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

SkyAI, Inc. Common Stock Company Profile

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.