Short Interest in Spectral AI, Inc. (NASDAQ:MDAIW) Declines By 74.3%

Spectral AI, Inc. (NASDAQ:MDAIW) was the target of a large drop in short interest in the month of May. As of May 29th, there was short interest totaling 2,837 shares, a drop of 74.3% from the May 14th total of 11,037 shares. Based on an average daily volume of 24,836 shares, the days-to-cover ratio is presently 0.1 days.

Spectral AI Stock Performance

NASDAQ MDAIW traded down $0.02 during mid-day trading on Friday, hitting $0.63. The company’s stock had a trading volume of 17,884 shares, compared to its average volume of 16,028. The company’s 50 day simple moving average is $0.72 and its 200 day simple moving average is $0.56. Spectral AI has a twelve month low of $0.36 and a twelve month high of $1.01.

About Spectral AI

Spectral AI Acquisition Corp I is a special purpose acquisition company (SPAC) incorporated in Delaware, trading on the NASDAQ under the ticker MDAIW. The entity was formed to raise capital through an initial public offering for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses, with an emphasis on companies operating in the artificial intelligence and advanced data analytics sectors.

The company’s strategy centers on identifying and completing a business combination with a target that can benefit from its public listing and access to growth capital.