Short Interest in Spectral AI, Inc. (NASDAQ:MDAI) Drops By 19.0%

Spectral AI, Inc. (NASDAQ:MDAI) was the recipient of a significant decrease in short interest in April. As of April 15th, there was short interest totalling 155,700 shares, a decrease of 19.0% from the March 31st total of 192,200 shares. Based on an average daily volume of 1,720,000 shares, the short-interest ratio is presently 0.1 days. Currently, 1.9% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

Separately, BTIG Research started coverage on shares of Spectral AI in a report on Tuesday, January 23rd. They issued a “buy” rating and a $4.00 target price on the stock.

Institutional Trading of Spectral AI

Hedge funds and other institutional investors have recently bought and sold shares of the business. Highlander Partners L.P. bought a new position in Spectral AI in the third quarter worth approximately $1,947,000. University of Texas Texas AM Investment Managment Co. purchased a new stake in shares of Spectral AI in the 3rd quarter worth $1,709,000. Rathbones Group PLC bought a new position in shares of Spectral AI during the 3rd quarter worth $1,119,000. Hsbc Holdings PLC purchased a new position in shares of Spectral AI during the third quarter valued at $224,000. Finally, Citigroup Inc. bought a new stake in shares of Spectral AI in the third quarter valued at about $62,000. Hedge funds and other institutional investors own 67.08% of the company’s stock.

Spectral AI Trading Up 0.5 %

NASDAQ MDAI traded up $0.01 during trading hours on Monday, hitting $1.86. 88,504 shares of the company were exchanged, compared to its average volume of 1,737,697. Spectral AI has a 52 week low of $1.70 and a 52 week high of $19.50. The stock has a 50-day moving average price of $2.12 and a 200 day moving average price of $2.42.

Spectral AI (NASDAQ:MDAI) last posted its quarterly earnings data on Friday, March 29th. The company reported ($0.22) earnings per share for the quarter. The business had revenue of $5.29 million for the quarter.

Spectral AI Company Profile

Spectral AI, Inc operates as an artificial intelligence (AI) company. The company focuses on medical diagnostics for faster and accurate treatment decisions in wound care with applications involving patients with burns and diabetic foot ulcers. Its products include DeepView, a predictive diagnostic device that offers clinicians an objective and immediate assessment of a wound's healing potential prior to treatment or other medical intervention.