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

Spectral AI, Inc. (NASDAQ:MDAI) was the recipient of a large decrease in short interest in 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 daily volume of 917,600 shares, the short-interest ratio is currently 1.1 days.

Spectral AI Stock Up 4.3 %

NASDAQ MDAI opened at $1.20 on Wednesday. The firm’s 50 day moving average is $1.74 and its 200-day moving average is $1.68. The company has a market capitalization of $22.31 million, a PE ratio of -1.85 and a beta of 0.43. Spectral AI has a 12-month low of $0.82 and a 12-month high of $3.25.

Spectral AI (NASDAQ:MDAI) last issued its quarterly earnings results on Thursday, March 27th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.07. The business had revenue of $7.60 million during the quarter, compared to analyst estimates of $6.83 million. As a group, sell-side analysts expect that Spectral AI will post -0.48 EPS for the current year.

Institutional Investors Weigh In On Spectral AI

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

Analyst Upgrades and Downgrades

Separately, HC Wainwright restated a “buy” rating and issued a $3.50 price target on shares of Spectral AI in a report on Tuesday, March 18th.

About Spectral AI

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.