Short Interest in ScanTech AI Systems Inc. (NASDAQ:STAI) Increases By 82.8%
by Kim Johansen · The Markets DailyScanTech AI Systems Inc. (NASDAQ:STAI – Get Free Report) was the recipient of a significant increase in short interest in the month of January. As of January 15th, there was short interest totaling 149,248 shares, an increase of 82.8% from the December 31st total of 81,630 shares. Approximately 4.1% of the company’s shares are sold short. Based on an average daily trading volume, of 132,543 shares, the short-interest ratio is currently 1.1 days. Based on an average daily trading volume, of 132,543 shares, the short-interest ratio is currently 1.1 days. Approximately 4.1% of the company’s shares are sold short.
Hedge Funds Weigh In On ScanTech AI Systems
An institutional investor recently bought a new position in ScanTech AI Systems stock. Goldman Sachs Group Inc. bought a new position in shares of ScanTech AI Systems Inc. (NASDAQ:STAI – Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 18,969 shares of the company’s stock, valued at approximately $39,000. Goldman Sachs Group Inc. owned approximately 0.42% of ScanTech AI Systems as of its most recent SEC filing. 74.04% of the stock is currently owned by institutional investors and hedge funds.
ScanTech AI Systems Price Performance
Shares of NASDAQ:STAI traded down $0.08 during mid-day trading on Friday, reaching $1.54. 56,656 shares of the company were exchanged, compared to its average volume of 227,953. The firm has a market cap of $5.79 million, a price-to-earnings ratio of -0.17 and a beta of -0.49. ScanTech AI Systems has a 1 year low of $1.48 and a 1 year high of $104.00. The firm’s 50-day simple moving average is $4.01 and its 200 day simple moving average is $8.05.
Wall Street Analysts Forecast Growth
Several equities research analysts recently weighed in on STAI shares. Weiss Ratings reissued a “sell (e+)” rating on shares of ScanTech AI Systems in a research report on Thursday, January 22nd. Wall Street Zen raised ScanTech AI Systems to a “sell” rating in a report on Saturday, December 20th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Sell”.
Check Out Our Latest Stock Analysis on STAI
About ScanTech AI Systems
Scantech AI Systems, Inc engages in the innovation, emerging technology, and machine learning expertise. ScanTech specializes in developing advanced screening technology that provides the most accurate and fastest detection of prohibited materials. The company was founded on September 5, 2023 and is headquartered in Buford, GA.