MultiSensor AI (NASDAQ:MSAI) Shares Down 0.6% – Here’s What Happened

MultiSensor AI Holdings, Inc. (NASDAQ:MSAI)’s stock price dropped 0.6% on Wednesday . The stock traded as low as $1.56 and last traded at $1.59. Approximately 39,044 shares changed hands during trading, a decline of 48% from the average daily volume of 74,415 shares. The stock had previously closed at $1.60.

MultiSensor AI Stock Down 2.5 %

The company has a 50 day moving average of $1.83 and a 200-day moving average of $1.90.

MultiSensor AI (NASDAQ:MSAI) last announced its earnings results on Tuesday, November 12th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.20). MultiSensor AI had a negative net margin of 464.06% and a negative return on equity of 668.81%. The business had revenue of $1.60 million during the quarter, compared to the consensus estimate of $4.50 million. 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

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Skylands Capital LLC acquired a new stake in MultiSensor AI during the second quarter worth approximately $328,000. 272 Capital LP bought a new stake in shares of MultiSensor AI during the 3rd quarter valued at $243,000. Connective Capital Management LLC acquired a new stake in shares of MultiSensor AI during the 2nd quarter worth $137,000. Geode Capital Management LLC increased its position in shares of MultiSensor AI by 149.9% in the third quarter. Geode Capital Management LLC now owns 129,189 shares of the company’s stock worth $279,000 after purchasing an additional 77,497 shares during the period. Finally, Sanders Morris Harris LLC raised its stake in MultiSensor AI by 1.9% in the third quarter. Sanders Morris Harris LLC now owns 3,375,593 shares of the company’s stock valued at $7,291,000 after purchasing an additional 62,892 shares in the last quarter. Institutional investors and hedge funds own 82.32% of the company’s stock.

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.