Short Interest in Spectral AI, Inc. (NASDAQ:MDAI) Increases By 275.7%

Spectral AI, Inc. (NASDAQ:MDAI) was the recipient of a large increase in short interest in the month of November. As of November 30th, there was short interest totalling 3,010,000 shares, an increase of 275.7% from the November 15th total of 801,100 shares. Based on an average trading volume of 1,760,000 shares, the days-to-cover ratio is currently 1.7 days. Approximately 34.1% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Spectral AI

An institutional investor recently bought a new position in Spectral AI stock. Forum Financial Management LP bought a new position in Spectral AI, Inc. (NASDAQ:MDAI) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 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 reporting period. 67.08% of the stock is currently owned by hedge funds and other institutional investors.

Spectral AI Stock Up 3.9 %

Spectral AI stock traded up $0.08 during trading hours on Wednesday, hitting $2.12. The stock had a trading volume of 1,546,062 shares, compared to its average volume of 1,157,535. The business’s 50 day simple moving average is $1.43 and its 200-day simple moving average is $1.51. Spectral AI has a one year low of $0.82 and a one year high of $3.72. The stock has a market cap of $39.41 million, a price-to-earnings ratio of -3.14 and a beta of 0.64.

Spectral AI Company Profile

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.