ScanTech AI Systems Inc. (NASDAQ:STAI) Short Interest Update

ScanTech AI Systems Inc. (NASDAQ:STAI) saw a significant decline in short interest during the month of December. As of December 31st, there was short interest totaling 81,630 shares, a decline of 96.0% from the December 15th total of 2,045,636 shares. Based on an average daily trading volume, of 107,662 shares, the days-to-cover ratio is presently 0.8 days. Approximately 2.2% of the shares of the company are sold short. Approximately 2.2% of the shares of the company are sold short. Based on an average daily trading volume, of 107,662 shares, the days-to-cover ratio is presently 0.8 days.

ScanTech AI Systems Trading Up 12.6%

STAI stock traded up $0.32 during midday trading on Monday, hitting $2.85. The stock had a trading volume of 261,727 shares, compared to its average volume of 164,525. ScanTech AI Systems has a 52 week low of $2.32 and a 52 week high of $104.00. The stock has a 50-day simple moving average of $5.79 and a 200 day simple moving average of $9.09. The firm has a market capitalization of $10.70 million, a price-to-earnings ratio of -0.31 and a beta of -0.49.

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

Insider Buying and Selling at ScanTech AI Systems

In other news, major shareholder Global Asset Managemen Seaport sold 6,681 shares of the firm’s stock in a transaction on Monday, October 27th. The shares were sold at an average price of $13.80, for a total value of $92,197.80. Following the sale, the insider owned 808,467 shares in the company, valued at approximately $11,156,844.60. This trade represents a 0.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders sold 13,281 shares of company stock valued at $124,498 over the last three months. 2.33% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ScanTech AI Systems

An institutional investor recently bought a new position in ScanTech AI Systems stock. York Capital Management Global Advisors LLC bought a new position in shares of ScanTech AI Systems Inc. (NASDAQ:STAI) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 1,700,000 shares of the company’s stock, valued at approximately $1,136,000. ScanTech AI Systems accounts for approximately 1.2% of York Capital Management Global Advisors LLC’s holdings, making the stock its 3rd biggest position. York Capital Management Global Advisors LLC owned 3.52% of ScanTech AI Systems at the end of the most recent reporting period. Institutional investors own 74.04% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Wall Street Zen raised shares of ScanTech AI Systems to a “sell” rating in a report on Saturday, December 20th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ScanTech AI Systems in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, ScanTech AI Systems currently has an average rating of “Sell”.

ScanTech AI Systems Company Profile

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.