Spectral AI, Inc. (NASDAQ:MDAI) Short Interest Up 30.4% in March

Spectral AI, Inc. (NASDAQ:MDAI) was the target of a large growth in short interest in the month of March. As of March 31st, there was short interest totalling 1,330,000 shares, a growth of 30.4% from the March 15th total of 1,020,000 shares. Currently, 10.0% of the shares of the company are short sold. Based on an average daily trading volume, of 641,800 shares, the short-interest ratio is presently 2.1 days.

Spectral AI Stock Performance

Shares of Spectral AI stock opened at $1.24 on Monday. Spectral AI has a 52-week low of $0.82 and a 52-week high of $3.25. The stock has a market cap of $31.39 million, a PE ratio of -1.91 and a beta of 0.61. The firm has a 50-day moving average of $1.52 and a 200-day moving average of $1.69.

Spectral AI (NASDAQ:MDAI) last released its quarterly earnings results on Thursday, March 27th. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates 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. Equities research analysts predict that Spectral AI will post -0.48 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, HC Wainwright restated a “buy” rating and set a $3.50 price objective on shares of Spectral AI in a research report on Wednesday, April 2nd.

Institutional Trading of Spectral AI

Several large investors have recently modified their holdings of MDAI. Millington Financial Advisors LLC bought a new stake in Spectral AI during the fourth quarter worth about $85,000. Avantax Planning Partners Inc. boosted its position in shares of Spectral AI by 44.7% during the 4th quarter. Avantax Planning Partners Inc. now owns 231,336 shares of the company’s stock worth $655,000 after acquiring an additional 71,484 shares in the last quarter. Virtu Financial LLC bought a new position in Spectral AI in the fourth quarter valued at approximately $38,000. Renaissance Technologies LLC bought a new stake in Spectral AI during the fourth quarter worth $272,000. Finally, Northern Trust Corp acquired a new stake in shares of Spectral AI in the 4th quarter valued at $44,000. 67.08% of the stock is owned by institutional investors and hedge funds.

Spectral AI Company Profile

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.