ScanTech AI Systems (NASDAQ:STAI) Lowered to “Sell” Rating by Wall Street Zen

ScanTech AI Systems (NASDAQ:STAI) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Saturday.

ScanTech AI Systems Stock Performance

Shares of NASDAQ STAI opened at $0.58 on Friday. The business has a 50 day moving average price of $0.73. ScanTech AI Systems has a 52-week low of $0.56 and a 52-week high of $5.20.

ScanTech AI Systems (NASDAQ:STAI) last announced its quarterly earnings data on Friday, July 25th. The company reported ($0.28) earnings per share for the quarter. The company had revenue of $0.37 million for the quarter.

Insider Activity

In related news, major shareholder Global Asset Managemen Seaport sold 110,000 shares of ScanTech AI Systems stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $0.95, for a total value of $104,500.00. Following the completion of the sale, the insider directly owned 16,542,973 shares in the company, valued at approximately $15,715,824.35. This trade represents a 0.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 22.77% of the stock is currently owned by insiders.

Institutional Trading of ScanTech AI Systems

A number of institutional investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. purchased a new position in shares of ScanTech AI Systems during the first quarter valued at approximately $39,000. MMCAP International Inc. SPC bought a new stake in ScanTech AI Systems in the 1st quarter worth approximately $71,000. Finally, Polar Asset Management Partners Inc. purchased a new stake in ScanTech AI Systems during the 1st quarter valued at $3,045,000. Hedge funds and other institutional investors own 74.04% of the company’s stock.

ScanTech AI Systems Company Profile

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.