ScanTech AI Systems (NASDAQ:STAI) Major Shareholder Global Asset Managemen Seaport Sells 115,000 Shares

ScanTech AI Systems Inc. (NASDAQ:STAI) major shareholder Global Asset Managemen Seaport sold 115,000 shares of ScanTech AI Systems stock in a transaction on Friday, September 19th. The stock was sold at an average price of $0.51, for a total value of $58,650.00. Following the completion of the sale, the insider directly owned 16,427,973 shares of the company’s stock, valued at approximately $8,378,266.23. The trade was a 0.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Global Asset Managemen Seaport also recently made the following trade(s):

• On Wednesday, July 30th, Global Asset Managemen Seaport sold 110,000 shares of ScanTech AI Systems stock. The stock was sold at an average price of $0.95, for a total value of $104,500.00.
• On Tuesday, July 29th, Global Asset Managemen Seaport sold 5,000 shares of ScanTech AI Systems stock. The stock was sold at an average price of $1.01, for a total value of $5,050.00.

ScanTech AI Systems Price Performance

ScanTech AI Systems stock opened at $0.45 on Friday. The stock has a fifty day simple moving average of $0.52 and a two-hundred day simple moving average of $1.05. ScanTech AI Systems Inc. has a 12 month low of $0.35 and a 12 month high of $5.20.

ScanTech AI Systems (NASDAQ:STAI) last posted its earnings results on Wednesday, September 17th. The company reported ($0.09) EPS for the quarter. The business had revenue of $0.86 million during the quarter.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered ScanTech AI Systems from a “hold” rating to a “sell” rating in a report on Saturday, August 2nd.

Hedge Funds Weigh In On ScanTech AI Systems

A number of institutional investors and hedge funds have recently modified their holdings of STAI. MMCAP International Inc. SPC purchased a new position in shares of ScanTech AI Systems in the 1st quarter worth $71,000. Polar Asset Management Partners Inc. purchased a new position in shares of ScanTech AI Systems in the 1st quarter worth $3,045,000. Goldman Sachs Group Inc. purchased a new position in shares of ScanTech AI Systems in the 1st quarter worth $39,000. Finally, York Capital Management Global Advisors LLC purchased a new position in shares of ScanTech AI Systems in the 2nd quarter worth $1,136,000. 74.04% of the stock is currently owned by hedge funds and other institutional investors.

About ScanTech AI Systems

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.