Jet.AI Inc. (NASDAQ:JTAI) Sees Significant Growth in Short Interest

Jet.AI Inc. (NASDAQ:JTAI) was the recipient of a large growth in short interest in the month of May. As of May 15th, there was short interest totalling 214,400 shares, a growth of 38.8% from the April 30th total of 154,500 shares. Approximately 8.7% of the company’s shares are short sold. Based on an average daily trading volume, of 656,500 shares, the days-to-cover ratio is presently 0.3 days.

Institutional Trading of Jet.AI

An institutional investor recently bought a new position in Jet.AI stock. Virtu Financial LLC bought a new position in Jet.AI Inc. (NASDAQ:JTAI) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 11,824 shares of the company’s stock, valued at approximately $54,000. Virtu Financial LLC owned about 1.52% of Jet.AI as of its most recent SEC filing. 5.51% of the stock is owned by institutional investors and hedge funds.

Jet.AI Trading Up 3.7%

JTAI stock opened at $3.93 on Wednesday. The stock has a 50-day moving average price of $4.08 and a 200-day moving average price of $4.41. Jet.AI has a 1-year low of $2.30 and a 1-year high of $166.50. The firm has a market cap of $10.03 million, a PE ratio of -0.02 and a beta of -0.27.

Jet.AI (NASDAQ:JTAI) last issued its earnings results on Thursday, May 15th. The company reported ($1.85) EPS for the quarter, missing analysts’ consensus estimates of ($0.76) by ($1.09). The company had revenue of $3.48 million during the quarter, compared to analyst estimates of $3.90 million.

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.