Jet.AI Inc. (NASDAQ:JTAI) Shares Shorted: Short Interest Up 70.3% in September

Jet.AI Inc. (NASDAQ:JTAI) was the target of a large increase in short interest during the month of September. As of September 15th, there was short interest totaling 242,595 shares, an increase of 70.3% from the August 31st total of 142,472 shares. Approximately 17.2% of the shares of the company are sold short. Based on an average daily volume of 103,842 shares, the days-to-cover ratio is presently 2.3 days.

Jet.AI Trading Down 1.3%

Shares of NASDAQ JTAI traded down $0.02 during trading on Wednesday, reaching $1.54. 5,844 shares of the company traded hands, compared to its average volume of 543,998. The stock has a market cap of $2.19 million, a P/E ratio of 0.00 and a beta of -0.33. The firm’s fifty day simple moving average is $1.63 and its 200 day simple moving average is $6.39. Jet.AI has a 12-month low of $1.20 and a 12-month high of $692.00.

Jet.AI (NASDAQ:JTAI) last issued its earnings results on Friday, August 14th. The company reported ($1.72) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($1.53). The company had revenue of $5.32 million during the quarter, compared to analysts’ expectations of $1.10 million. Jet.AI had a negative return on equity of 34.68% and a net margin of 49.49%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Wall Street Zen raised Jet.AI to a “hold” rating in a report on Saturday, September 19th. Weiss Ratings upgraded shares of Jet.AI from a “sell (d-)” rating to a “sell (d)” rating in a research note on Thursday, September 17th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Jet.AI has a consensus rating of “Sell”.

About Jet.AI

Jet.AI Inc is a technology and private aviation company that develops software and provides aircraft services for private jet travel. Its business combines artificial intelligence tools with on-demand charter, aircraft management and aviation operations.

The company’s software platform includes CharterGPT, an AI-enabled interface designed to help users search for and book private jet flights using natural-language requests. Jet.AI also provides tools intended to support charter operators, brokers and other aviation businesses with flight planning, quoting and customer-management activities.

Through its aviation operations, Jet.AI offers private aircraft charter and related services, including aircraft management and brokerage.