Marpai (NASDAQ:MRAI) Issues Quarterly Earnings Results

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

Marpai Price Performance

NASDAQ MRAI opened at $2.44 on Friday. Marpai has a 52 week low of $0.33 and a 52 week high of $13.60. The stock has a fifty day moving average of $1.66 and a 200-day moving average of $1.32.

Insider Transactions at Marpai

In other news, CEO Damien Lamendola purchased 910,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were acquired at an average price of $1.65 per share, for a total transaction of $1,501,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 2,861,306 shares in the company, valued at $4,721,154.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders bought a total of 2,022,100 shares of company stock worth $2,524,632 over the last 90 days. 61.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Marpai

A hedge fund recently raised its stake in Marpai stock. Vanguard Group Inc. raised its holdings in shares of Marpai, Inc. (NASDAQ:MRAI) by 63.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 363,332 shares of the company’s stock after acquiring an additional 140,407 shares during the period. Vanguard Group Inc. owned approximately 1.79% of Marpai worth $654,000 at the end of the most recent reporting period. 49.75% of the stock is owned by institutional investors.

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 target price on the stock in a research report on Thursday.

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.