Marpai, Inc. (NASDAQ:MRAI) Sees Large Decline in Short Interest

Posted by Scott Davis on Apr 26th, 2024

Marpai, Inc. (NASDAQ:MRAI – Get Free Report) was the recipient of a significant drop in short interest in the month of April. As of April 15th, there was short interest totalling 116,600 shares, a drop of 42.0% from the March 31st total of 201,100 shares. Approximately 2.3% of the shares of the company are short sold. Based on an average daily volume of 453,500 shares, the days-to-cover ratio is currently 0.3 days.

Analyst Ratings Changes

Separately, Maxim Group raised Marpai from a “hold” rating to a “buy” rating and set a $6.00 price target for the company in a research note on Thursday, March 28th.

View Our Latest Stock Report on MRAI

Marpai Price Performance

Shares of NASDAQ MRAI traded down $0.02 during trading on Friday, reaching $2.11. The stock had a trading volume of 28,862 shares, compared to its average volume of 694,274. Marpai has a one year low of $0.33 and a one year high of $3.46. The firm’s 50 day moving average price is $2.06 and its two-hundred day moving average price is $1.54.

Marpai (NASDAQ:MRAI – Get Free Report) last posted its quarterly earnings results on Tuesday, March 26th. The company reported ($0.65) earnings per share for the quarter. The company had revenue of $8.71 million during the quarter.

Insider Buying and Selling

In other Marpai news, CEO Damien Lamendola bought 910,000 shares of Marpai stock in a transaction on Thursday, March 7th. The stock was bought at an average price of $1.65 per share, with a total value of $1,501,500.00. Following the completion of the acquisition, the chief executive officer now owns 2,861,306 shares in the company, valued at $4,721,154.90. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 61.30% of the company’s stock.

Marpai Company Profile

(Get Free Report)

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.