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

Jet.AI Inc. (NASDAQ:JTAI) saw a significant drop in short interest during the month of March. As of March 15th, there was short interest totalling 222,600 shares, a drop of 39.2% from the February 28th total of 366,000 shares. Based on an average daily trading volume, of 5,210,000 shares, the days-to-cover ratio is currently 0.0 days. Approximately 10.5% of the company’s shares are sold short.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Jet.AI stock. Virtu Financial LLC purchased a new stake in Jet.AI Inc. (NASDAQ:JTAI) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 11,824 shares of the company’s stock, valued at approximately $54,000. Virtu Financial LLC owned about 1.52% of Jet.AI as of its most recent filing with the Securities & Exchange Commission. 5.51% of the stock is currently owned by institutional investors and hedge funds.

Jet.AI Stock Up 1.2 %

NASDAQ:JTAI traded up $0.05 during midday trading on Monday, hitting $4.18. The stock had a trading volume of 102,547 shares, compared to its average volume of 1,505,266. The stock has a 50-day moving average of $4.53 and a 200 day moving average of $9.34. The company has a market capitalization of $3.26 million, a price-to-earnings ratio of -0.02 and a beta of -0.50. Jet.AI has a one year low of $2.30 and a one year high of $217.71.

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.