Jet.AI (NASDAQ:JTAI) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Jet.AI (NASDAQ:JTAI) from a strong sell rating to a sell rating in a research note issued to investors on Sunday morning.

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Jet.AI in a report on Thursday, January 22nd. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $2,200.00.

Jet.AI Trading Up 16.1%

Shares of Jet.AI stock opened at $8.06 on Friday. The firm has a fifty day simple moving average of $17.73 and a 200-day simple moving average of $193.62. Jet.AI has a 1-year low of $5.00 and a 1-year high of $940.00. The stock has a market capitalization of $4.80 million, a price-to-earnings ratio of -0.20 and a beta of -0.09.

Jet.AI (NASDAQ:JTAI) last posted its quarterly earnings data on Friday, March 6th. The company reported ($0.62) earnings per share (EPS) for the quarter, topping the consensus estimate of ($72.00) by $71.38. The business had revenue of $1.77 million during the quarter, compared to the consensus estimate of $1.00 million. Jet.AI had a net margin of 50.00% and a negative return on equity of 70.43%.

Jet.AI announced that its board has authorized a share buyback program on Tuesday, March 17th that allows the company to buyback $5.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 44.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Jet.AI Company Profile

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.