SkyAI, Inc. Common Stock (NASDAQ:SKYA) Sees Large Drop in Short Interest

SkyAI, Inc. Common Stock (NASDAQ:SKYA) was the target of a significant decline in short interest in the month of June. As of June 30th, there was short interest totaling 477,230 shares, a decline of 34.7% from the June 15th total of 731,128 shares. Approximately 1.4% of the shares of the company are short sold. Based on an average daily volume of 482,048 shares, the short-interest ratio is currently 1.0 days.

SkyAI, Inc. Common Stock Stock Performance

Shares of NASDAQ:SKYA opened at $1.16 on Friday. The company’s fifty day moving average is $1.36 and its 200-day moving average is $1.70. SkyAI, Inc. Common Stock has a 52 week low of $0.91 and a 52 week high of $18.23. The company has a market capitalization of $49.09 million, a PE ratio of -0.71 and a beta of 2.10.

SkyAI, Inc. Common Stock (NASDAQ:SKYA) last announced its earnings results on Thursday, May 14th. The company reported ($1.19) earnings per share (EPS) for the quarter. The company had revenue of $0.19 million for the quarter.

Analysts Set New Price Targets

SKYA has been the subject of several research reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of SkyAI, Inc. Common Stock in a research report on Tuesday, April 21st. Wall Street Zen cut shares of SkyAI, Inc. Common Stock from a “hold” rating to a “sell” rating in a research note on Monday, May 18th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has an average rating of “Sell”.

Institutional Trading of SkyAI, Inc. Common Stock

Several hedge funds have recently modified their holdings of SKYA. Saba Capital Management L.P. raised its stake in shares of SkyAI, Inc. Common Stock by 645.7% in the first quarter. Saba Capital Management L.P. now owns 1,511,988 shares of the company’s stock valued at $2,540,000 after acquiring an additional 1,309,236 shares during the last quarter. Cannell & Spears LLC bought a new stake in SkyAI, Inc. Common Stock during the 1st quarter worth approximately $141,000. Aristides Capital LLC acquired a new stake in SkyAI, Inc. Common Stock during the 4th quarter valued at $25,000. Feynman Point Asset Management LLC acquired a new stake in SkyAI, Inc. Common Stock during the 4th quarter valued at $1,121,000. Finally, Arrington Capital Management LLC bought a new position in SkyAI, Inc. Common Stock in the 4th quarter valued at $1,874,000. Institutional investors and hedge funds own 17.17% of the company’s stock.

SkyAI, Inc. Common Stock Company Profile

Sharps Technology (NASDAQ:STSS) is an insurtech company specializing in technology-enabled subrogation recovery services for property and casualty insurers. The company’s flagship platform combines process automation, data analytics and digital workflow tools to help carriers and third-party administrators identify, manage and recover funds from liable third parties. By streamlining the subrogation lifecycle—from claim intake through recovery—Sharps delivers greater transparency, faster turnaround times and improved recovery rates for its clients.

Since its initial public offering in late 2021, Sharps Technology has focused on expanding its presence across the United States.