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

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

Analysts Set New Price Targets

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

Jet.AI Price Performance

Shares of NASDAQ JTAI opened at $0.24 on Wednesday. The company has a 50-day moving average price of $1.02 and a 200-day moving average price of $2.36. The stock has a market capitalization of $947,916.00, a P/E ratio of -0.07 and a beta of -0.15. Jet.AI has a 1 year low of $0.24 and a 1 year high of $11.77.

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

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.