BTIG Research Reaffirms “Buy” Rating for Spectral AI (NASDAQ:MDAI)

Spectral AI (NASDAQ:MDAI)‘s stock had its “buy” rating reissued by analysts at BTIG Research in a report released on Tuesday,Benzinga reports. They presently have a $3.00 price target on the stock. BTIG Research’s target price would suggest a potential upside of 91.69% from the company’s current price.

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Spectral AI in a report on Monday, December 22nd. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Spectral AI presently has an average rating of “Hold” and an average price target of $3.25.

Spectral AI Trading Up 1.0%

NASDAQ MDAI traded up $0.02 during trading on Tuesday, hitting $1.57. 103,718 shares of the company traded hands, compared to its average volume of 328,441. Spectral AI has a 12 month low of $1.04 and a 12 month high of $3.21. The business has a fifty day simple moving average of $1.59 and a 200 day simple moving average of $1.91. The company has a market capitalization of $48.03 million, a P/E ratio of -2.11 and a beta of 0.94.

Spectral AI (NASDAQ:MDAI) last issued its quarterly earnings data on Wednesday, November 12th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.05). The company had revenue of $3.79 million during the quarter, compared to analyst estimates of $5.06 million. Equities research analysts predict that Spectral AI will post -0.48 EPS for the current fiscal year.

Hedge Funds Weigh In On Spectral AI

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Philip James Wealth Mangement LLC acquired a new stake in shares of Spectral AI during the 3rd quarter worth approximately $27,000. Raymond James Financial Inc. boosted its stake in Spectral AI by 1,180.0% during the third quarter. Raymond James Financial Inc. now owns 12,800 shares of the company’s stock worth $29,000 after buying an additional 11,800 shares in the last quarter. Jane Street Group LLC bought a new stake in Spectral AI in the 2nd quarter valued at $74,000. Marshall Wace LLP acquired a new position in shares of Spectral AI in the 2nd quarter valued at $104,000. Finally, DNB Asset Management AS bought a new position in shares of Spectral AI during the 2nd quarter worth about $107,000. 67.08% of the stock is currently owned by institutional investors.

Spectral AI Company Profile

Spectral AI, Inc (NASDAQ: MDAI) is a technology company focused on delivering advanced analytics and insights through the application of machine learning to multi-spectral and hyperspectral data. Its core platform ingests imagery from satellites, aerial drones and ground-based sensors, applying proprietary algorithms to identify patterns and anomalies invisible to the naked eye. The company’s solutions are designed to help clients make more informed decisions in areas such as agriculture, environmental monitoring, infrastructure inspection and resource exploration.

The company offers a cloud-native software-as-a-service (SaaS) platform that enables users to visualize and analyze large volumes of spectral data via customizable dashboards.