ScanTech AI Systems (NASDAQ:STAI) Given “Sell (E+)” Rating at Weiss Ratings

ScanTech AI Systems (NASDAQ:STAI)‘s stock had its “sell (e+)” rating reissued by research analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

Separately, Wall Street Zen upgraded shares of ScanTech AI Systems to a “sell” rating in a research note on Friday, September 26th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has an average rating of “Sell”.

ScanTech AI Systems Stock Performance

STAI stock opened at $0.45 on Wednesday. The company’s 50-day simple moving average is $0.46 and its 200 day simple moving average is $0.94. ScanTech AI Systems has a 52 week low of $0.35 and a 52 week high of $5.20.

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

Insiders Place Their Bets

In related news, major shareholder Global Asset Managemen Seaport sold 115,000 shares of the company’s stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $0.51, for a total transaction of $58,650.00. Following the completion of the sale, the insider owned 16,427,973 shares of the company’s stock, valued at $8,378,266.23. This represents a 0.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold a total of 230,000 shares of company stock worth $168,200 over the last three months. Corporate insiders own 22.77% of the company’s stock.

Institutional Investors Weigh In On ScanTech AI Systems

Several institutional investors and hedge funds have recently bought and sold shares of the company. York Capital Management Global Advisors LLC bought a new stake in ScanTech AI Systems during the second quarter worth about $1,136,000. Goldman Sachs Group Inc. bought a new stake in ScanTech AI Systems during the first quarter worth about $39,000. Polar Asset Management Partners Inc. bought a new position in shares of ScanTech AI Systems in the first quarter worth about $3,045,000. Finally, MMCAP International Inc. SPC bought a new position in shares of ScanTech AI Systems in the first quarter worth about $71,000. 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.