Spectral AI, Inc. (NASDAQ:MDAI) Short Interest Down 19.0% in April

Spectral AI, Inc. (NASDAQ:MDAI) saw a large decrease in short interest in the month of 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 trading volume of 1,720,000 shares, the days-to-cover ratio is presently 0.1 days. Currently, 1.9% of the shares of the company are sold short.

Spectral AI Stock Up 0.5 %

Shares of MDAI stock traded up $0.01 on Friday, hitting $1.85. 95,036 shares of the stock were exchanged, compared to its average volume of 321,829. Spectral AI has a one year low of $1.70 and a one year high of $19.50. The firm’s 50 day moving average is $2.12 and its two-hundred day moving average is $2.43.

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Cantor Fitzgerald L. P. purchased a new position in Spectral AI during the 4th quarter valued at about $38,000. Citigroup Inc. purchased a new position in Spectral AI during the 3rd quarter valued at about $62,000. Hsbc Holdings PLC purchased a new position in Spectral AI during the 3rd quarter valued at about $224,000. Highlander Partners L.P. grew its holdings in Spectral AI by 18.6% during the 4th quarter. Highlander Partners L.P. now owns 900,000 shares of the company’s stock valued at $2,214,000 after buying an additional 141,416 shares in the last quarter. Finally, Rathbones Group PLC purchased a new position in Spectral AI during the 3rd quarter valued at about $1,119,000. Hedge funds and other institutional investors own 67.08% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, BTIG Research began coverage on Spectral AI in a research note on Tuesday, January 23rd. They set a “buy” rating and a $4.00 price target for the company.

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.