ScanTech AI Systems Inc. (NASDAQ:STAI) Sees Significant Increase in Short Interest

ScanTech AI Systems Inc. (NASDAQ:STAI) was the recipient of a significant growth in short interest in January. As of January 15th, there was short interest totaling 149,248 shares, a growth of 82.8% from the December 31st total of 81,630 shares. Based on an average trading volume of 132,543 shares, the days-to-cover ratio is presently 1.1 days. Approximately 4.1% of the shares of the company are sold short. Approximately 4.1% of the shares of the company are sold short. Based on an average trading volume of 132,543 shares, the days-to-cover ratio is presently 1.1 days.

Analyst Ratings Changes

STAI has been the subject of several analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of ScanTech AI Systems in a report on Thursday, January 22nd. Wall Street Zen raised shares of 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 currently has a consensus rating of “Sell”.

ScanTech AI Systems Trading Down 4.9%

NASDAQ STAI traded down $0.08 on Friday, reaching $1.54. The stock had a trading volume of 56,656 shares, compared to its average volume of 227,953. The company has a market capitalization of $5.79 million, a price-to-earnings ratio of -0.17 and a beta of -0.49. The business has a 50 day moving average price of $4.01 and a 200 day moving average price of $8.05. ScanTech AI Systems has a 1 year low of $1.48 and a 1 year high of $104.00.

Institutional Trading of ScanTech AI Systems

A hedge fund recently bought a new stake in ScanTech AI Systems stock. York Capital Management Global Advisors LLC bought a new position in shares of ScanTech AI Systems Inc. (NASDAQ:STAI) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,700,000 shares of the company’s stock, valued at approximately $1,136,000. ScanTech AI Systems accounts for about 1.2% of York Capital Management Global Advisors LLC’s holdings, making the stock its 3rd largest holding. York Capital Management Global Advisors LLC owned about 3.52% of ScanTech AI Systems at the end of the most recent reporting period. Institutional investors and hedge funds own 74.04% of the company’s stock.

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.