Steve Johnson, the Chief Financial Officer of Marpai, Inc. (NASDAQ:MRAI), has recently made a significant investment in the company's stock, purchasing shares worth a total of $8275. The transactions, which took place on two separate occasions, demonstrate a strong vote of confidence in the future of the healthcare services company.
On May 24, 2024, Johnson acquired 5,000 shares of Marpai's Class A Common Stock at a price of $1.20 per share. A few days later, on May 29, he continued to increase his stake by purchasing an additional 3,500 shares, this time at a lower price of $0.6501 per share. These transactions have brought Johnson's total ownership in the company to 368,061 shares.
The purchases by the CFO come at a range of prices, highlighting the potential value Johnson sees in the stock at current market levels. With shares acquired at prices varying from as low as $0.6501 to $1.20, investors might take note of this insider buying pattern as a positive sign.
Marpai, Inc., headquartered in Tampa, Florida, operates in the miscellaneous health and allied services sector, providing a variety of services under the SIC code 8090. The company, incorporated in Delaware, has been a player in the industry with a focus on innovative health solutions.
The recent acquisitions by the CFO are a clear indication of his belief in the company's direction and prospects. Insider purchases are often regarded by investors as a bullish signal, as executives are perceived to have the best understanding of the company's operational performance and strategic positioning.
Investors and market watchers will likely keep a close eye on Marpai's performance and any further insider transactions, as these can provide valuable insights into the company's health and future expectations.
InvestingPro Insights
As Marpai Inc.'s CFO Steve Johnson shows his confidence in the company through recent stock purchases, investors considering Marpai's potential might find it useful to look at some key financial metrics provided by InvestingPro. The company's market capitalization stands at a modest $9.28 million, reflecting a smaller scale operation within the healthcare services sector. Despite a challenging market, Marpai has managed to achieve a notable revenue growth of 25.45% over the last twelve months as of Q1 2024.
However, it's not all smooth sailing for the company. Marpai's P/E ratio, both traditional and adjusted, is in the negative territory, with the latest adjusted figure at -0.41, suggesting that the company is currently not profitable. The negative PEG ratio of -0.01 further underscores the challenges ahead in terms of earnings growth. On a more positive note, Marpai's gross profit margin stands at a healthy 34.89%, indicating a solid capability to control the cost of goods sold and retain earnings from sales.
For investors intrigued by the CFO's recent stock purchases and considering a deeper dive into Marpai's financial health, InvestingPro offers additional insights. There are more InvestingPro Tips available that could shed light on the company's performance and outlook. Interested readers can unlock these tips and benefit from an exclusive offer using the coupon code PRONEWS24 for an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
With the fair value of Marpai's stock being estimated at $2.28 by InvestingPro, significantly higher than the previous close price of $0.9, there could be potential for upside according to this assessment. Keeping an eye on the company's next earnings date on August 9, 2024, could provide further clarity on its trajectory. The recent insider buying may be a signal to some investors that there could be value yet to be uncovered in Marpai's stock.
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