Jet.AI Inc. (NASDAQ:JTAI) Short Interest Up 462.0% in January

Jet.AI Inc. (NASDAQ:JTAI) was the recipient of a large increase in short interest during the month of January. As of January 15th, there was short interest totaling 3,724,788 shares, an increase of 462.0% from the December 31st total of 662,760 shares. Approximately 95.8% of the shares of the company are sold short. Based on an average trading volume of 51,823,890 shares, the short-interest ratio is presently 0.1 days. Based on an average trading volume of 51,823,890 shares, the short-interest ratio is presently 0.1 days. Approximately 95.8% of the shares of the company are sold short.

Jet.AI Price Performance

Jet.AI stock traded down $0.09 during midday trading on Thursday, reaching $0.17. The stock had a trading volume of 26,178,959 shares, compared to its average volume of 35,552,652. The firm’s fifty day simple moving average is $1.00 and its two-hundred day simple moving average is $2.34. The firm has a market cap of $667,590.00, a price-to-earnings ratio of -0.05 and a beta of -0.15. Jet.AI has a twelve month low of $0.15 and a twelve month high of $11.77.

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

Wall Street Analyst Weigh In

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

Jet.AI Company Profile

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.