Spectral AI, Inc. (NASDAQ:MDAIW) Sees Large Increase in Short Interest

Spectral AI, Inc. (NASDAQ:MDAIW) was the target of a large increase in short interest in June. As of June 30th, there was short interest totaling 16,888 shares, an increase of 144.6% from the June 15th total of 6,904 shares. Based on an average daily trading volume, of 6,012 shares, the days-to-cover ratio is presently 2.8 days.

Spectral AI Price Performance

MDAIW traded down $0.05 during midday trading on Tuesday, hitting $0.56. 3,800 shares of the company’s stock traded hands, compared to its average volume of 14,970. The stock’s fifty day simple moving average is $0.69 and its 200-day simple moving average is $0.58. Spectral AI has a one year low of $0.35 and a one year high of $1.01.

Spectral AI Company Profile

Spectral AI Acquisition Corp I is a special purpose acquisition company (SPAC) incorporated in Delaware, trading on the NASDAQ under the ticker MDAIW. The entity was formed to raise capital through an initial public offering for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses, with an emphasis on companies operating in the artificial intelligence and advanced data analytics sectors.

The company’s strategy centers on identifying and completing a business combination with a target that can benefit from its public listing and access to growth capital.