SkyAI, Inc. Common Stock (NASDAQ:SKYA) Short Interest Up 112.5% in July

SkyAI, Inc. Common Stock (NASDAQ:SKYA) was the recipient of a large growth in short interest during the month of July. As of July 15th, there was short interest totaling 1,014,055 shares, a growth of 112.5% from the June 30th total of 477,230 shares. Approximately 3.0% of the shares of the company are short sold. Based on an average daily volume of 132,493 shares, the days-to-cover ratio is currently 7.7 days.

Institutional Investors Weigh In On SkyAI, Inc. Common Stock

A number of institutional investors have recently added to or reduced their stakes in the stock. Schonfeld Strategic Advisors LLC purchased a new stake in shares of SkyAI, Inc. Common Stock during the third quarter worth $9,404,000. Saba Capital Management L.P. boosted its holdings in SkyAI, Inc. Common Stock by 645.7% during the 1st 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 period. Pantera Capital Partners LP acquired a new position in SkyAI, Inc. Common Stock in the 3rd quarter valued at about $7,498,000. Arrington Capital Management LLC acquired a new position in SkyAI, Inc. Common Stock in the 4th quarter valued at about $1,874,000. Finally, HBK Investments L P purchased a new stake in SkyAI, Inc. Common Stock during the fourth quarter worth about $1,448,000. Institutional investors and hedge funds own 17.17% of the company’s stock.

Wall Street Analyst Weigh In

SKYA has been the topic of several research analyst reports. Wall Street Zen downgraded shares of SkyAI, Inc. Common Stock from a “hold” rating to a “sell” rating in a research report on Monday, May 18th. Weiss Ratings reissued a “sell (e+)” rating on shares of SkyAI, Inc. Common Stock in a report on Friday, July 17th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has an average rating of “Sell”.

SkyAI, Inc. Common Stock Price Performance

SKYA stock traded up $0.03 during midday trading on Tuesday, hitting $1.34. 17,733 shares of the stock traded hands, compared to its average volume of 431,598. SkyAI, Inc. Common Stock has a 1-year low of $0.91 and a 1-year high of $18.23. The stock’s fifty day simple moving average is $1.29 and its 200-day simple moving average is $1.66. The firm has a market cap of $56.92 million, a P/E ratio of -0.83 and a beta of 2.10.

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

About SkyAI, Inc. Common Stock

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.