Saba Capital Management L.P. Has $2.54 Million Stock Holdings in SkyAI, Inc. Common Stock $SKYA

Key Points

• Saba Capital Management increased its SkyAI position by 645.7% in the first quarter, holding 1.51 million shares worth approximately $2.54 million, or 3.91% of the company.
• SkyAI shares opened at $1.32 after a reported 5% decline; the stock has traded between $0.91 and $18.23 over the past year. The company reported a quarterly loss of $1.19 per share on revenue of $0.19 million.
• Analyst sentiment remains negative: the stock has an average rating of “Sell”, while institutional investors collectively own 17.17% of the company.

Saba Capital Management L.P. raised its position in SkyAI, Inc. Common Stock (NASDAQ:SKYA - Free Report) by 645.7% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 1,511,988 shares of the company's stock after buying an additional 1,309,236 shares during the period. Saba Capital Management L.P. owned about 3.91% of SkyAI, Inc. Common Stock worth $2,540,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Cannell & Spears LLC bought a new position in SkyAI, Inc. Common Stock in the first quarter valued at about $141,000. Aristides Capital LLC acquired a new position in SkyAI, Inc. Common Stock during the 4th quarter worth approximately $25,000. Feynman Point Asset Management LLC acquired a new stake in shares of SkyAI, Inc. Common Stock in the fourth quarter valued at about $1,121,000. Arrington Capital Management LLC acquired a new stake in SkyAI, Inc. Common Stock in the fourth quarter valued at $1,874,000. Finally, HBK Investments L P acquired a new position in SkyAI, Inc. Common Stock during the fourth quarter worth approximately $1,448,000. Institutional investors own 17.17% of the company's stock.

SkyAI, Inc. Common Stock Stock Down 5.0%

SKYA opened at $1.32 on Tuesday. The stock has a market cap of $55.86 million, a PE ratio of -0.81 and a beta of 2.10. The company has a fifty day moving average of $1.29 and a 200-day moving average of $1.66. SkyAI, Inc. Common Stock has a twelve month low of $0.91 and a twelve month high of $18.23.

SkyAI, Inc. Common Stock (NASDAQ:SKYA - Get Free Report) last announced its earnings results on Thursday, May 14th. The company reported ($1.19) EPS for the quarter. The company had revenue of $0.19 million during the quarter.

Wall Street Analyst Weigh In

Several analysts recently issued reports on SKYA shares. Weiss Ratings restated a "sell (e+)" rating on shares of SkyAI, Inc. Common Stock in a research note on Friday, July 17th. Wall Street Zen lowered shares of SkyAI, Inc. Common Stock from a "hold" rating to a "sell" rating in a research report on Monday, May 18th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has an average rating of "Sell".

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.

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