Odysight.ai Inc. (NASDAQ:ODYS) Sees Significant Decline in Short Interest

Key Points

• Short interest fell 42.8% to 12,880 shares as of September 15, representing 0.1% of outstanding shares and just 0.3 days of average trading volume.
• Analysts’ consensus rating is “Moderate Buy”, with an average price target of $8.57, although ratings range from Strong Buy to Sell.
• Two directors purchased a combined 78,125 shares at $3.20 each, while insiders collectively own 46.9% of the company. The stock was recently trading at $3.04, well below its 52-week high of $11.30.

Odysight.ai Inc. (NASDAQ:ODYS - Get Free Report) saw a significant drop in short interest during the month of September. As of September 15th, there was short interest totaling 12,880 shares, a drop of 42.8% from the August 31st total of 22,517 shares. Based on an average daily volume of 47,444 shares, the short-interest ratio is presently 0.3 days. Currently, 0.1% of the company's stock are short sold.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on ODYS shares. Weiss Ratings upgraded shares of Odysight.ai from a "sell (e+)" rating to a "sell (d-)" rating in a report on Friday, September 25th. Morgan Stanley upgraded shares of Odysight.ai to an "overweight" rating in a report on Wednesday, June 24th. Benchmark restated a "buy" rating on shares of Odysight.ai in a research note on Monday, August 17th. Chardan Capital upgraded Odysight.ai to a "strong-buy" rating in a research report on Wednesday, August 26th. Finally, Zacks Research raised shares of Odysight.ai to a "hold" rating in a report on Friday, August 28th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $8.57.

Insider Buying and Selling at Odysight.ai

In related news, Director Benad Goldwasser acquired 46,875 shares of the stock in a transaction dated Thursday, August 20th. The stock was acquired at an average cost of $3.20 per share, with a total value of $150,000.00. Following the purchase, the director directly owned 121,875 shares of the company's stock, valued at approximately $390,000. This trade represents a 62.50% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Zeev Vurembrand acquired 31,250 shares of Odysight.ai stock in a transaction on Thursday, August 20th. The stock was purchased at an average price of $3.20 per share, with a total value of $100,000.00. Following the purchase, the director owned 46,250 shares of the company's stock, valued at $148,000. The trade was a 208.33% increase in their position. The disclosure for this purchase is available in the SEC filing. 46.90% of the stock is owned by insiders.

Odysight.ai Price Performance

Odysight.ai stock traded up $0.04 during trading hours on Wednesday, hitting $3.04. The stock had a trading volume of 12,204 shares, compared to its average volume of 27,646. Odysight.ai has a 1-year low of $2.60 and a 1-year high of $11.30. The stock's fifty day moving average is $3.76 and its two-hundred day moving average is $4.60. The stock has a market capitalization of $61.53 million, a price-to-earnings ratio of -2.74 and a beta of -0.55.

Odysight.ai (NASDAQ:ODYS - Get Free Report) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($0.26) EPS for the quarter. The company had revenue of $0.42 million for the quarter. Odysight.ai had a negative net margin of 1,669.72% and a negative return on equity of 78.20%. As a group, sell-side analysts anticipate that Odysight.ai will post -1.12 EPS for the current year.

Odysight.ai Company Profile

Odysight.ai Ltd. NASDAQ: ODYS is a technology company that develops artificial intelligence and computer-vision solutions for monitoring equipment and detecting potential failures. Its technology is designed to analyze visual data from hard-to-access components and provide insights that can support predictive maintenance, inspection and operational decision-making.

The company's products combine miniature visual sensing systems, cameras, data processing and AI-based analytics. These solutions are intended for applications in industries such as aerospace, automotive and industrial machinery, where early identification of wear, damage or abnormal operating conditions can help improve reliability and reduce unplanned downtime.

Odysight.ai was formerly known as ScoutCam Inc and has roots in Israel's technology sector.

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