Jet.AI (NASDAQ:JTAI) Releases Earnings Results, Misses Expectations By $1.53 EPS

by · The Cerbat Gem

Jet.AI (NASDAQ:JTAI – Get Free Report) posted its earnings results on Friday. The company reported ($1.72) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($1.53), FiscalAI reports. Jet.AI had a net margin of 68.77% and a negative return on equity of 47.89%. The firm had revenue of $5.32 million during the quarter, compared to analyst estimates of $1.10 million.

Jet.AI Stock Performance

Jet.AI stock traded down $0.08 during midday trading on Friday, reaching $1.71. 144,152 shares of the company were exchanged, compared to its average volume of 576,269. The company has a market capitalization of $2.43 million, a price-to-earnings ratio of 0.01 and a beta of -0.31. The firm’s 50-day simple moving average is $4.66 and its 200-day simple moving average is $12.50. Jet.AI has a 1 year low of $1.62 and a 1 year high of $800.00.

Analysts Set New Price Targets

Several research firms recently commented on JTAI. Wall Street Zen lowered shares of Jet.AI from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 16th. Weiss Ratings restated a “sell (d)” rating on shares of Jet.AI in a research report on Tuesday, June 16th. 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 has a consensus rating of “Hold” and a consensus price target of $2,200.00.

Read Our Latest Analysis on JTAI

About Jet.AI

(Get Free Report)

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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