MultiSensor AI (NASDAQ:MSAI) Stock Price Up 5.3% - Here's What Happened

MultiSensor AI Holdings, Inc. (NASDAQ:MSAI - Get Free Report)'s stock price rose 5.3% during mid-day trading on Friday . The stock traded as high as $2.00 and last traded at $2.00. Approximately 30,638 shares changed hands during trading, a decline of 1% from the average daily 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 200 day simple moving average of $1.86.

MultiSensor AI (NASDAQ:MSAI - Get Free Report) last released its earnings results on Tuesday, November 12th. The company reported ($0.22) EPS 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 analyst estimates of $4.50 million. MultiSensor AI had a negative return on equity of 668.81% and a negative net margin of 464.06%. As a group, equities research analysts predict that MultiSensor AI Holdings, Inc. will post -0.83 EPS for the current year.

Institutional Trading of MultiSensor AI

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MSAI. Sanders Morris Harris LLC boosted its holdings in shares of MultiSensor AI by 1.9% in the 3rd quarter. Sanders Morris Harris LLC now owns 3,375,593 shares of the company's stock valued at $7,291,000 after acquiring an additional 62,892 shares during the last quarter. Geode Capital Management LLC boosted its holdings in MultiSensor AI by 149.9% in the third quarter. Geode Capital Management LLC now owns 129,189 shares of the company's stock valued at $279,000 after purchasing an additional 77,497 shares during the last quarter. 272 Capital LP purchased a new position in shares of MultiSensor AI during the 3rd quarter valued at about $243,000. Connective Capital Management LLC acquired a new position in shares of MultiSensor AI in the 2nd quarter valued at about $137,000. Finally, E&G Advisors LP purchased a new stake in shares of MultiSensor AI in the third quarter worth about $38,000. 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.