ScanTech AI Systems (NASDAQ:STAI) Major Shareholder Global Asset Managemen Seaport Sells 3,000 Shares

ScanTech AI Systems Inc. (NASDAQ:STAI) major shareholder Global Asset Managemen Seaport sold 3,000 shares of the company’s stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $4.29, for a total value of $12,870.00. Following the sale, the insider directly owned 804,967 shares in the company, valued at $3,453,308.43. This represents a 0.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Global Asset Managemen Seaport also recently made the following trade(s):

• On Wednesday, December 17th, Global Asset Managemen Seaport sold 100 shares of ScanTech AI Systems stock. The stock was sold at an average price of $3.80, for a total transaction of $380.00.
• On Tuesday, October 28th, Global Asset Managemen Seaport sold 500 shares of ScanTech AI Systems stock. The shares were sold at an average price of $13.20, for a total value of $6,600.00.
• On Monday, October 27th, Global Asset Managemen Seaport sold 6,681 shares of ScanTech AI Systems stock. The shares were sold at an average price of $13.80, for a total value of $92,197.80.
• On Friday, October 10th, Global Asset Managemen Seaport sold 6,250 shares of ScanTech AI Systems stock. The shares were sold at an average price of $14.60, for a total value of $91,250.00.
• On Friday, September 19th, Global Asset Managemen Seaport sold 5,750 shares of ScanTech AI Systems stock. The stock was sold at an average price of $10.20, for a total transaction of $58,650.00.

ScanTech AI Systems Stock Down 5.0%

NASDAQ:STAI opened at $3.02 on Friday. The stock has a market cap of $11.34 million, a PE ratio of -8.16 and a beta of -0.79. ScanTech AI Systems Inc. has a fifty-two week low of $3.02 and a fifty-two week high of $104.00. The firm’s fifty day simple moving average is $8.42 and its 200-day simple moving average is $10.49.

ScanTech AI Systems (NASDAQ:STAI) last posted its earnings results on Friday, December 12th. The company reported ($3.60) earnings per share for the quarter. The firm had revenue of $0.63 million during the quarter. ScanTech AI Systems had a negative net margin of 477.09% and a negative return on equity of 11.25%.

Analyst Ratings Changes

Several brokerages have recently issued reports on STAI. Wall Street Zen raised shares of ScanTech AI Systems to a “sell” rating in a research note on Friday, September 26th. Weiss Ratings restated a “sell (e+)” rating on shares of ScanTech AI Systems in a report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has a consensus rating of “Sell”.

Hedge Funds Weigh In On ScanTech AI Systems

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. acquired a new position in ScanTech AI Systems during the 1st quarter valued at about $39,000. York Capital Management Global Advisors LLC purchased a new position in shares of ScanTech AI Systems in the second quarter worth approximately $1,136,000. Finally, Polar Asset Management Partners Inc. acquired a new stake in ScanTech AI Systems during the 1st quarter valued at $3,045,000. 74.04% of the stock is owned by institutional investors.

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.