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

Jet.AI Inc. (NASDAQ:JTAI) was the recipient of a large growth in short interest during the month of October. As of October 15th, there was short interest totalling 7,420,000 shares, a growth of 369.6% from the September 30th total of 1,580,000 shares. Based on an average daily volume of 33,570,000 shares, the days-to-cover ratio is currently 0.2 days. Approximately 69.4% of the shares of the stock are sold short.

Jet.AI Price Performance

NASDAQ JTAI traded down $0.01 on Friday, reaching $0.07. 42,684,588 shares of the company’s stock traded hands, compared to its average volume of 11,554,454. The stock has a market cap of $4.36 million, a PE ratio of -0.05 and a beta of 0.27. Jet.AI has a 12 month low of $0.07 and a 12 month high of $4.47. The stock has a 50-day simple moving average of $0.13 and a 200 day simple moving average of $0.38.

Jet.AI (NASDAQ:JTAI) last released its earnings results on Wednesday, August 14th. The company reported ($0.25) EPS for the quarter. The company had revenue of $3.08 million for the quarter.

Jet.AI Company Profile

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.