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 business’s stock in a transaction that occurred on Monday, December 22nd. The shares were sold at an average price of $4.15, for a total transaction of $12,450.00. Following the completion of the sale, the insider directly owned 801,867 shares in the company, valued at $3,327,748.05. This trade represents a 0.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases 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 shares were sold at an average price of $3.80, for a total value of $380.00.
• On Tuesday, December 16th, Global Asset Managemen Seaport sold 3,000 shares of ScanTech AI Systems stock. The shares were sold at an average price of $4.29, for a total value of $12,870.00.
• On Tuesday, October 28th, Global Asset Managemen Seaport sold 500 shares of ScanTech AI Systems stock. The stock was 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 stock was sold at an average price of $13.80, for a total transaction 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 transaction of $91,250.00.

ScanTech AI Systems Trading Down 5.3%

STAI traded down $0.15 during trading hours on Monday, hitting $2.69. 102,286 shares of the company’s stock were exchanged, compared to its average volume of 293,117. The firm has a market cap of $10.11 million, a P/E ratio of -0.29 and a beta of -0.78. ScanTech AI Systems Inc. has a 12-month low of $2.60 and a 12-month high of $104.00. The firm has a 50 day moving average of $7.47 and a 200 day moving average of $9.91.

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

Analyst Ratings Changes

Several brokerages have recently issued reports on STAI. Weiss Ratings reiterated a “sell (e+)” rating on shares of ScanTech AI Systems in a research note on Wednesday, October 8th. Wall Street Zen raised shares of ScanTech AI Systems to a “sell” rating in a report on Saturday, December 20th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Institutional Investors Weigh In On ScanTech AI Systems

Hedge funds and other institutional investors have recently made changes to their positions in the business. Polar Asset Management Partners Inc. purchased a new stake in ScanTech AI Systems during the first quarter worth approximately $3,045,000. Goldman Sachs Group Inc. purchased a new stake in shares of ScanTech AI Systems during the 1st quarter worth approximately $39,000. Finally, York Capital Management Global Advisors LLC acquired a new position in shares of ScanTech AI Systems in the 2nd quarter valued at $1,136,000. 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.