MultiSensor AI (NASDAQ:MSAI) Trading Up 5.3% – Here’s Why

MultiSensor AI Holdings, Inc. (NASDAQ:MSAI)’s share price shot up 5.3% during trading on Friday . The stock traded as high as $2.00 and last traded at $2.00. 30,638 shares changed hands during trading, a decline of 1% from the average session volume of 30,819 shares. The stock had previously closed at $1.90.

MultiSensor AI Stock Up 5.3 %

The business has a 50 day simple moving average of $1.77 and a two-hundred day simple moving average of $1.85.

MultiSensor AI (NASDAQ:MSAI) last announced its earnings results on Tuesday, November 12th. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.20). The company had revenue of $1.60 million during the quarter, compared to analysts’ expectations of $4.50 million. MultiSensor AI had a negative net margin of 464.06% and a negative return on equity of 668.81%. On average, equities analysts predict that MultiSensor AI Holdings, Inc. will post -0.83 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Verus Capital Partners LLC bought a new stake in MultiSensor AI during the third quarter worth about $38,000. E&G Advisors LP purchased a new stake in shares of MultiSensor AI in the 3rd quarter valued at $38,000. Connective Capital Management LLC bought a new position in shares of MultiSensor AI during the 2nd quarter valued at $137,000. 272 Capital LP bought a new stake in MultiSensor AI in the third quarter worth $243,000. Finally, Geode Capital Management LLC boosted its position in MultiSensor AI by 149.9% during the third quarter. Geode Capital Management LLC now owns 129,189 shares of the company’s stock valued at $279,000 after buying an additional 77,497 shares during the period. 82.32% of the stock is currently owned by hedge funds and other institutional investors.

About MultiSensor AI

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.