Spectral AI, Inc. (NASDAQ:MDAI) Short Interest Up 275.7% in November

Posted by Jim Brewer on Dec 11th, 2024

Spectral AI, Inc. (NASDAQ:MDAI – Get Free Report) was the target of a large growth in short interest during the month of November. As of November 30th, there was short interest totalling 3,010,000 shares, a growth of 275.7% from the November 15th total of 801,100 shares. Based on an average daily trading volume, of 1,760,000 shares, the days-to-cover ratio is presently 1.7 days. Approximately 34.1% of the company’s stock are short sold.

Hedge Funds Weigh In On Spectral AI

A hedge fund recently bought a new stake in Spectral AI stock. Forum Financial Management LP acquired a new stake in shares of Spectral AI, Inc. (NASDAQ:MDAI – Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 29,098 shares of the company’s stock, valued at approximately $51,000. Forum Financial Management LP owned about 0.17% of Spectral AI at the end of the most recent quarter. Hedge funds and other institutional investors own 67.08% of the company’s stock.

Spectral AI Stock Up 3.9 %

NASDAQ:MDAI traded up $0.08 during midday trading on Wednesday, hitting $2.12. The company had a trading volume of 1,546,062 shares, compared to its average volume of 1,157,535. The stock’s fifty day moving average price is $1.43 and its 200-day moving average price is $1.51. Spectral AI has a 52-week low of $0.82 and a 52-week high of $3.72. The company has a market capitalization of $39.41 million, a PE ratio of -3.14 and a beta of 0.64.

Analyst Ratings Changes

Separately, HC Wainwright restated a “buy” rating and issued a $3.50 price objective on shares of Spectral AI in a research note on Tuesday, August 13th.

Get Our Latest Research Report on Spectral AI

Spectral AI Company Profile

(Get Free Report)

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.