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

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

Wall Street Analyst Weigh In

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

Spectral AI Stock Up 0.5 %

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

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

Institutional Trading of Spectral AI

Hedge funds have recently made changes to their positions in the company. Cantor Fitzgerald L. P. purchased a new stake in Spectral AI in the 4th quarter valued at about $38,000. Citigroup Inc. acquired a new stake in shares of Spectral AI during the third quarter valued at about $62,000. Hsbc Holdings PLC purchased a new stake in shares of Spectral AI in the 3rd quarter valued at approximately $224,000. Rathbones Group PLC acquired a new position in shares of Spectral AI in the 3rd quarter worth approximately $1,119,000. Finally, University of Texas Texas AM Investment Managment Co. purchased a new position in shares of Spectral AI during the 3rd quarter worth approximately $1,709,000. Hedge funds and other institutional investors own 67.08% of the company’s stock.

About Spectral AI

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.