Jet.AI (NASDAQ:JTAI) Posts Earnings Results, Misses Estimates By $0.11 EPS

Jet.AI (NASDAQ:JTAI) posted its earnings results on Friday. The company reported ($0.59) EPS for the quarter, missing the consensus estimate of ($0.48) by ($0.11), FiscalAI reports. Jet.AI had a negative return on equity of 179.13% and a negative net margin of 92.55%.The business had revenue of $1.71 million for the quarter, compared to the consensus estimate of $2.10 million.

Jet.AI Price Performance

Shares of Jet.AI stock opened at $1.85 on Friday. The firm has a market cap of $6.48 million, a PE ratio of -0.04 and a beta of -0.22. Jet.AI has a 1 year low of $1.82 and a 1 year high of $11.77. The stock has a fifty day moving average price of $2.88 and a 200-day moving average price of $3.40.

Analyst Ratings Changes

JTAI has been the subject of a number of recent research reports. Maxim Group decreased their price objective on Jet.AI from $20.00 to $11.00 and set a “buy” rating for the company in a report on Wednesday, August 20th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Jet.AI in a report on Wednesday, October 8th. One investment 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.com, Jet.AI has a consensus rating of “Hold” and an average target price of $11.00.

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.