Volato Group, Inc. (NYSEAMERICAN:SOAR) Sees Large Decline in Short Interest

Volato Group, Inc. (NYSEAMERICAN:SOAR) was the target of a large drop in short interest in the month of July. As of July 15th, there was short interest totaling 2,241,361 shares, a drop of 68.4% from the June 30th total of 7,099,845 shares. Based on an average daily volume of 3,479,158 shares, the days-to-cover ratio is presently 0.6 days. Currently, 7.1% of the shares of the stock are sold short.

Volato Group Stock Down 1.5%

SOAR stock opened at $0.13 on Friday. The stock has a 50-day simple moving average of $0.18 and a two-hundred day simple moving average of $0.30. Volato Group has a twelve month low of $0.10 and a twelve month high of $4.36.

Volato Group (NYSEAMERICAN:SOAR) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($0.18) earnings per share (EPS) for the quarter. Volato Group had a negative return on equity of 16.55% and a net margin of 3.85%.The firm had revenue of $1.00 million during the quarter.

Institutional Trading of Volato Group

A hedge fund recently raised its stake in Volato Group stock. Geode Capital Management LLC boosted its position in Volato Group, Inc. (NYSEAMERICAN:SOAR) by 336.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,870 shares of the company’s stock after purchasing an additional 36,905 shares during the quarter. Geode Capital Management LLC owned about 0.64% of Volato Group worth $31,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

About Volato Group

Volato Group, Inc operates as a private aviation company. It offers fractional ownership, aircraft management, jet cards, deposit, and charter programs. As of December 31, 2023, the company operated a fleet of 24 HondaJets and a managed fleet of 6 aircraft. Volato Group, Inc was founded in 2021 and is based in Chamblee, Georgia.