Jet.AI Inc. (NASDAQ:JTAI) Short Interest Up 462.0% in January

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

Jet.AI Stock Performance

Jet.AI stock opened at $0.24 on Wednesday. Jet.AI has a fifty-two week low of $0.24 and a fifty-two week high of $11.77. The stock has a market cap of $947,916.00, a P/E ratio of -0.07 and a beta of -0.15. The firm’s fifty day moving average price is $1.02 and its 200-day moving average price is $2.36.

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

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Jet.AI in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Jet.AI presently has an average rating of “Hold” and a consensus price target of $11.00.

About Jet.AI

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.