SkyAI, Inc. Common Stock (NASDAQ:SKYA) Sees Large Decrease in Short Interest

Key Points

• Short interest in SkyAI fell sharply in June, dropping 34.7% to 477,230 shares as of June 30. That leaves about 1.4% of the company’s stock sold short, with a days-to-cover ratio of 1.0.
• Analyst sentiment remains bearish, with Weiss Ratings reiterating a sell rating and Wall Street Zen downgrading the stock from hold to sell. MarketBeat’s consensus rating is also Sell.
• The stock has been under pressure, opening at $1.19 with a market cap of about $50.36 million, well below its 52-week high of $18.23. The company most recently reported a quarterly EPS loss of $1.19 on just $0.19 million in revenue.

SkyAI, Inc. Common Stock (NASDAQ:SKYA - Get Free Report) was the recipient of a large drop in short interest in the month of June. As of June 30th, there was short interest totaling 477,230 shares, a drop of 34.7% from the June 15th total of 731,128 shares. Based on an average trading volume of 482,048 shares, the days-to-cover ratio is presently 1.0 days. Currently, 1.4% of the company's stock are sold short.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SKYA. Weiss Ratings restated a "sell (e+)" rating on shares of SkyAI, Inc. Common Stock in a report on Tuesday, April 21st. Wall Street Zen lowered shares of SkyAI, Inc. Common Stock from a "hold" rating to a "sell" rating in a research note on Monday, May 18th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, SkyAI, Inc. Common Stock has a consensus rating of "Sell".

Institutional Trading of SkyAI, Inc. Common Stock

Institutional investors have recently made changes to their positions in the business. Bank of America Corp DE raised its position in SkyAI, Inc. Common Stock by 98,825.0% in the third quarter. Bank of America Corp DE now owns 7,914 shares of the company's stock worth $52,000 after purchasing an additional 7,906 shares in the last quarter. Aristides Capital LLC bought a new stake in shares of SkyAI, Inc. Common Stock in the 4th quarter valued at approximately $25,000. Price T Rowe Associates Inc. MD acquired a new position in shares of SkyAI, Inc. Common Stock in the 4th quarter worth approximately $43,000. T3 Companies LLC bought a new position in shares of SkyAI, Inc. Common Stock during the 4th quarter worth approximately $68,000. Finally, Cannell & Spears LLC bought a new position in shares of SkyAI, Inc. Common Stock during the 1st quarter worth approximately $141,000. 17.17% of the stock is currently owned by institutional investors and hedge funds.

SkyAI, Inc. Common Stock Price Performance

Shares of SKYA opened at $1.19 on Friday. The company has a market capitalization of $50.36 million, a PE ratio of -0.73 and a beta of 2.10. SkyAI, Inc. Common Stock has a one year low of $0.91 and a one year high of $18.23. The company's fifty day moving average price is $1.38 and its 200 day moving average price is $1.71.

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

SkyAI, Inc. Common Stock Company Profile

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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