Jet.AI (NASDAQ:JTAI) Releases Quarterly Earnings Results, Misses Estimates By $0.11 EPS

by · The Cerbat Gem

Jet.AI (NASDAQ:JTAI – Get Free Report) posted its earnings results on Friday. The company reported ($0.59) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.11), FiscalAI reports. The company had revenue of $1.71 million during the quarter, compared to analysts’ expectations of $2.10 million. Jet.AI had a negative net margin of 92.55% and a negative return on equity of 179.13%.

Jet.AI Stock Down 6.6%

Shares of JTAI stock traded down $0.13 during trading hours on Friday, hitting $1.85. 55,526 shares of the company were exchanged, compared to its average volume of 106,921. The firm has a fifty day moving average of $2.88 and a 200 day moving average of $3.41. Jet.AI has a 1 year low of $1.82 and a 1 year high of $11.77. The firm has a market cap of $6.48 million, a PE ratio of -0.04 and a beta of -0.22.

Analysts Set New Price Targets

Several brokerages have recently issued reports on JTAI. Maxim Group reduced their price objective on Jet.AI from $20.00 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday, August 20th. Weiss Ratings restated a “sell (e+)” rating on shares of Jet.AI in a report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $11.00.

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About Jet.AI

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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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