Marpai (NASDAQ:MRAI) Trading Down 6%

Marpai, Inc. (NASDAQ:MRAI)’s share price dropped 6% during mid-day trading on Friday . The company traded as low as $2.30 and last traded at $2.33. Approximately 25,981 shares were traded during trading, a decline of 96% from the average daily volume of 737,058 shares. The stock had previously closed at $2.48.

Analysts Set New Price Targets

Separately, Maxim Group upgraded shares of Marpai from a “hold” rating to a “buy” rating and set a $6.00 price objective on the stock in a research note on Thursday, March 28th.

Marpai Stock Performance

The business’s 50 day simple moving average is $1.99 and its 200-day simple moving average is $1.50.

Marpai (NASDAQ:MRAI) last announced its quarterly earnings data on Tuesday, March 26th. The company reported ($0.65) earnings per share (EPS) for the quarter. The business had revenue of $8.71 million for the quarter.

Insider Transactions at Marpai

In related news, CEO Damien Lamendola bought 910,000 shares of the company’s stock in a transaction dated Thursday, March 7th. The stock was purchased 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 of the company’s stock, valued at $4,721,154.90. The purchase was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 61.30% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Marpai stock. Jane Street Group LLC bought a new position in Marpai, Inc. (NASDAQ:MRAI) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 15,586 shares of the company’s stock, valued at approximately $28,000. Jane Street Group LLC owned about 0.08% of Marpai at the end of the most recent quarter. 49.75% of the stock is currently owned by institutional investors and hedge funds.

Marpai Company Profile

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.