REDMOND, Wash. - Airship AI Holdings, Inc. (NASDAQ: AISP), a company specializing in AI-driven surveillance solutions, is set to be included in the Russell 3000® Index following the 2024 FTSE Russell indexes annual reconstitution. The inclusion, effective after the U.S. markets close on June 28, 2024, was announced in a preliminary list of additions on May 24, 2024.
The Russell 3000® Index captures the largest 4,000 U.S. stocks as of April 30th each year, ranking them by total market capitalization. Joining the index means Airship AI will also be automatically included in either the large-cap Russell 1000® Index or small-cap Russell 2000® Index, along with the appropriate growth and value style indexes.
FTSE Russell, a global index provider, determines membership for its indexes based on objective market-capitalization rankings and style attributes. These indexes are widely utilized by investment managers and institutional investors for creating index funds and as benchmarks for various investment strategies. Approximately $10.5 trillion in assets were benchmarked against Russell U.S. indexes as of the end of December 2023.
Airship AI, founded in 2006 and headquartered in Redmond, Washington, delivers a platform that enhances public safety and operational efficiency through predictive analysis and intelligence. Its suite of products includes Outpost AI edge hardware and software, Acropolis enterprise management software, and Command visualization tools.
The company's press release also contained forward-looking statements regarding its services, technology, expansion plans, and potential commercial and customer relationships. These statements are based on the company's assumptions and current management expectations and are subject to risks and uncertainties detailed in its SEC filings.
This announcement is based on a press release statement from Airship AI Holdings, Inc. The company's forward-looking statements should not be seen as guarantees of future performance, and the company has not committed to updating these statements in the future.
InvestingPro Insights
Airship AI Holdings, Inc. (NASDAQ: AISP), while preparing to join the prestigious Russell 3000® Index, presents a mixed financial canvas according to the latest data from InvestingPro. The company's market capitalization currently stands at a modest $86.81 million. Despite facing challenges, with a significant price drop over the past month of 46.43% and a six-month return of -62.66%, the firm has managed to achieve a remarkable quarterly revenue growth of 270.49% in the first quarter of 2024.
InvestingPro Tips highlight that Airship AI is not profitable over the last twelve months, which is reflected in its negative P/E ratio of -3.69, adjusted to -7.05 for the last twelve months as of Q1 2024. This financial metric underscores the company's current lack of earnings. Moreover, the stock has experienced high price volatility, which could be a point of consideration for potential investors looking for stability in their portfolio.
Despite these challenges, analysts anticipate sales growth in the current year, which could signify a turnaround for Airship AI as it continues to innovate in the AI-driven surveillance space. For investors interested in a deeper dive, there are additional InvestingPro Tips available, offering a comprehensive analysis of Airship AI's financial health and market position. To explore these insights further, visit https://www.investing.com/pro/AISP and remember to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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