Short Interest in Spectral AI, Inc. (NASDAQ:MDAI) Decreases By 66.8%

Spectral AI, Inc. (NASDAQ:MDAI) was the recipient of a large drop in short interest in December. As of December 15th, there was short interest totalling 1,000,000 shares, a drop of 66.8% from the November 30th total of 3,010,000 shares. Based on an average trading volume of 1,950,000 shares, the days-to-cover ratio is currently 0.5 days. Currently, 9.8% of the shares of the stock are short sold.

Spectral AI Stock Up 12.8 %

Shares of Spectral AI stock traded up $0.26 during trading on Thursday, hitting $2.29. 1,705,238 shares of the company were exchanged, compared to its average volume of 1,171,775. The firm has a 50 day moving average price of $1.61 and a 200 day moving average price of $1.54. The stock has a market capitalization of $42.57 million, a price-to-earnings ratio of -3.52 and a beta of 0.64. Spectral AI has a fifty-two week low of $0.82 and a fifty-two week high of $3.72.

Institutional Inflows and Outflows

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) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 29,098 shares of the company’s stock, valued at approximately $51,000. Forum Financial Management LP owned 0.17% of Spectral AI as of its most recent SEC filing. Institutional investors and hedge funds own 67.08% of the company’s stock.

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.