Jet.AI Inc. (NASDAQ:JTAI - Get Free Report) shares hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $0.0352 and last traded at $8.2670, with a volume of 202637637 shares. The stock had previously closed at $7.70.
Analysts Set New Price Targets
Separately, Weiss Ratings restated a "sell (e+)" rating on shares of Jet.AI in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $2,200.00.
Check Out Our Latest Stock Analysis on JTAI
Jet.AI Price Performance
The firm has a market capitalization of $645.05 million, a PE ratio of -27.72 and a beta of -0.09. The business's 50-day moving average price is $0.12 and its 200-day moving average price is $1.21.
Jet.AI (NASDAQ:JTAI - Get Free Report) last announced its earnings results on Friday, March 6th. The company reported ($124.00) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($72.00) by ($52.00). Jet.AI had a negative return on equity of 70.43% and a net margin of 50.00%.The business had revenue of $1.77 million for the quarter, compared to analysts' expectations of $1.00 million.
Jet.AI declared that its board has authorized a share repurchase plan on Tuesday, March 17th that permits the company to repurchase $5.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 44.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.
Jet.AI Company Profile
(
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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.
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