Marpai, Inc. (NASDAQ:MRAI) director Michael Charles Dendy has sold a significant portion of his stock in the company, according to a recent filing with the Securities and Exchange Commission. The transactions, which occurred on May 10, 2024, involved the sale of shares at varying prices, resulting in a total sale value of over $100,000.
The SEC filing details two separate sales of Class A Common Stock by Dendy. In the first transaction, Dendy sold 2,371 shares at a weighted average price of $2.4046, with individual sales prices ranging from $2.40 to $2.44. The second transaction was larger, involving 42,752 shares sold at a weighted average price of $2.3172, with sales prices between $2.24 and $2.42.
Collectively, these sales amounted to a total of $104,766. It's noted that the shares sold in the second transaction were held directly by Dendy, while the shares in the first sale were held in a charitable remainder trust, benefiting Dendy as a beneficiary.
Following these transactions, Dendy's remaining ownership in Marpai stands at 17,629 shares held indirectly and 61,098 shares held directly. The director has committed to providing full information regarding the number of shares sold at each separate price within the stated ranges upon request.
Marpai, Inc., which operates in the health and allied services sector, is incorporated in Delaware and has its business address in Tampa, Florida. The company's stock is traded on the NASDAQ under the ticker symbol MRAI.
InvestingPro Insights
Amid the news of director Michael Charles Dendy's significant stock sale in Marpai, Inc. (NASDAQ:MRAI), current and potential investors might be looking to understand the company's financial health and market performance. Here are some key metrics and InvestingPro Tips to consider:
According to recent data, Marpai's market capitalization stands at a modest $23.18 million. The company's revenue for the last twelve months as of Q1 2024 was reported at $34.87 million, marking a 25.45% growth, which is a positive signal for investors. However, it's important to note that the company's operating income margin during the same period was negative at -70.98%, indicating operational challenges.
The company's stock has experienced a large price uptick, with a 251.62% return over the last six months, and a strong return of 75.78% over the last three months. This could reflect a short-term positive sentiment among investors. Nevertheless, the InvestingPro Tips suggest that the stock generally trades with high price volatility and that short-term obligations exceed liquid assets, which could be a concern for those looking for stability or immediate liquidity.
Furthermore, analysts do not anticipate Marpai will be profitable this year, and the company has not been profitable over the last twelve months. Additionally, Marpai does not pay a dividend to shareholders, which might be a factor for income-focused investors to consider.
For those interested in a deeper dive into Marpai's financials and market performance, InvestingPro offers additional tips. Using the coupon code PRONEWS24, readers can receive an additional 10% off a yearly or biyearly Pro and Pro+ subscription to access these insights. As of now, there are 7 more InvestingPro Tips available that could help investors make more informed decisions about Marpai, Inc.
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