MultiSensor AI (NASDAQ:MSAI) Trading Down 2.3% – Here’s What Happened

MultiSensor AI Holdings, Inc. (NASDAQ:MSAI) dropped 2.3% on Wednesday . The company traded as low as $0.73 and last traded at $0.73. Approximately 52,008 shares were traded during trading, a decline of 26% from the average daily volume of 70,452 shares. The stock had previously closed at $0.75.

Wall Street Analyst Weigh In

Separately, D. Boral Capital reissued a “buy” rating and issued a $2.50 price objective on shares of MultiSensor AI in a research report on Friday, July 25th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, MultiSensor AI has an average rating of “Buy” and an average target price of $2.50.

MultiSensor AI Stock Performance

The business has a 50 day moving average of $0.72 and a two-hundred day moving average of $0.89.

MultiSensor AI (NASDAQ:MSAI) last issued its earnings results on Wednesday, August 13th. The company reported ($0.10) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.10). MultiSensor AI had a negative return on equity of 126.32% and a negative net margin of 338.72%.The company had revenue of $1.42 million for the quarter, compared to analyst estimates of $2.10 million. Analysts anticipate that MultiSensor AI Holdings, Inc. will post -0.83 earnings per share for the current year.

Insiders Place Their Bets

In related news, major shareholder Gary Eugene Strahan sold 89,265 shares of the company’s stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $0.75, for a total value of $66,948.75. Following the sale, the insider owned 5,724,351 shares in the company, valued at $4,293,263.25. This represents a 1.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold a total of 307,362 shares of company stock worth $212,666 in the last 90 days. Corporate insiders own 11.40% of the company’s stock.

Institutional Investors Weigh In On MultiSensor AI

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Citadel Advisors LLC purchased a new stake in shares of MultiSensor AI in the fourth quarter worth approximately $25,000. SBI Securities Co. Ltd. raised its stake in shares of MultiSensor AI by 310,500.0% in the first quarter. SBI Securities Co. Ltd. now owns 31,060 shares of the company’s stock worth $29,000 after purchasing an additional 31,050 shares during the last quarter. U.S. Capital Wealth Advisors LLC raised its position in MultiSensor AI by 130.5% in the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 86,573 shares of the company’s stock valued at $52,000 after buying an additional 49,014 shares during the last quarter. Geode Capital Management LLC raised its position in MultiSensor AI by 39.1% in the 4th quarter. Geode Capital Management LLC now owns 179,686 shares of the company’s stock valued at $331,000 after buying an additional 50,497 shares during the last quarter. Finally, Sanders Morris Harris LLC raised its position in MultiSensor AI by 7.2% in the 2nd quarter. Sanders Morris Harris LLC now owns 2,973,656 shares of the company’s stock valued at $1,778,000 after buying an additional 200,931 shares during the last quarter. Institutional investors and hedge funds own 82.32% of the company’s stock.

MultiSensor AI Company Profile

MultiSensor AI Holdings, Inc manufactures and distributes multi-sensor systems for thermographic and other use in various industrial applications in the United States and internationally. The company offers sensor devices ranging from small to large handheld designs with built-in displays and controls, fixed-mounted pan-tilt-zoom single- and multi-sensor camera standalone systems, and mobile multi-sensor payload and gimbal systems for unmanned aerial vehicles and unmanned ground vehicles.