Marpai (NASDAQ:MRAI) Raised to Buy at Maxim Group

Marpai (NASDAQ:MRAI) was upgraded by equities researchers at Maxim Group from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a $6.00 price target on the stock. Maxim Group’s target price suggests a potential upside of 130.77% from the company’s current price.

Marpai Trading Up 25.0 %

MRAI stock traded up $0.52 during mid-day trading on Thursday, reaching $2.60. The company’s stock had a trading volume of 544,923 shares, compared to its average volume of 875,598. The company has a market cap of $26.70 million, a price-to-earnings ratio of -0.59 and a beta of 5.25. The business’s 50 day moving average price is $1.63 and its 200 day moving average price is $1.31. Marpai has a 12 month low of $0.33 and a 12 month high of $13.60.

Marpai (NASDAQ:MRAI) last released its quarterly earnings data on Tuesday, March 26th. The company reported ($0.65) EPS for the quarter. The firm had revenue of $8.71 million for the quarter. Marpai had a negative net margin of 77.38% and a negative return on equity of 789.96%.

Insider Activity at Marpai

In other Marpai news, CEO Damien Lamendola acquired 910,000 shares of Marpai stock in a transaction on Thursday, March 7th. The stock was purchased at an average price of $1.65 per share, for a total transaction of $1,501,500.00. Following the purchase, the chief executive officer now directly owns 2,861,306 shares of the company’s stock, valued at $4,721,154.90. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last three months, insiders purchased 2,022,100 shares of company stock valued at $2,524,632. 61.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Marpai stock. Vanguard Group Inc. lifted its position in shares of Marpai, Inc. (NASDAQ:MRAI) by 63.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 363,332 shares of the company’s stock after buying an additional 140,407 shares during the period. Vanguard Group Inc. owned about 1.79% of Marpai worth $654,000 as of its most recent SEC filing. 49.75% of the stock is owned by institutional investors.

About Marpai

Marpai, Inc, a technology-driven healthcare payer, focuses on providing services to the self-insured employer market in the United States and Israel. The company offers ancillary services, such as care management, case management, actuarial services, health savings account administration, bill review and cost containment services.