Spectral AI, Inc. (NASDAQ:MDAI) Short Interest Down 12.8% in March

by · The Markets Daily

Spectral AI, Inc. (NASDAQ:MDAI – Get Free Report) saw a significant decrease in short interest in the month of March. As of March 15th, there was short interest totalling 1,020,000 shares, a decrease of 12.8% from the February 28th total of 1,170,000 shares. Approximately 8.4% of the company’s stock are sold short. Based on an average trading volume of 917,600 shares, the days-to-cover ratio is presently 1.1 days.

Hedge Funds Weigh In On Spectral AI

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Virtu Financial LLC purchased a new position in shares of Spectral AI in the 4th quarter valued at $38,000. Northern Trust Corp purchased a new position in shares of Spectral AI during the 4th quarter worth approximately $44,000. Millington Financial Advisors LLC acquired a new position in shares of Spectral AI during the 4th quarter worth $85,000. Jane Street Group LLC purchased a new position in Spectral AI in the fourth quarter valued at about $92,000. Finally, Renaissance Technologies LLC acquired a new position in Spectral AI during the fourth quarter worth $272,000. Hedge funds and other institutional investors own 67.08% of the company’s stock.

Spectral AI Stock Down 4.7 %

MDAI stock opened at $1.23 on Friday. The firm has a 50-day simple moving average of $1.71 and a 200-day simple moving average of $1.67. Spectral AI has a 52 week low of $0.82 and a 52 week high of $3.25. The stock has a market capitalization of $28.60 million, a P/E ratio of -1.89 and a beta of 0.62.

Spectral AI (NASDAQ:MDAI – Get Free Report) last released its quarterly earnings data on Thursday, March 27th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.07. The firm had revenue of $7.60 million for the quarter, compared to analyst estimates of $6.83 million. On average, analysts expect that Spectral AI will post -0.48 earnings per share for the current year.

Analysts Set New Price Targets

Separately, HC Wainwright reiterated a “buy” rating and set a $3.50 price objective on shares of Spectral AI in a research note on Wednesday.

Read Our Latest Report on MDAI

Spectral AI Company Profile

(Get Free Report)

Spectral AI, Inc, an artificial intelligence (AI) company, focuses on developing predictive medical diagnostics in the United States. The company develops medical diagnostics for faster and accurate treatment decisions in wound care with applications involving patients with burns and diabetic foot ulcers.

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