Spectral AI (NASDAQ:MDAI) Rating Increased to Strong-Buy at Northland Securities

Spectral AI (NASDAQ:MDAI) was upgraded by equities research analysts at Northland Securities to a “strong-buy” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Other equities research analysts have also recently issued reports about the company. Weiss Ratings raised Spectral AI from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, June 29th. BTIG Research upped their price objective on shares of Spectral AI from $3.00 to $4.00 and gave the company a “buy” rating in a research report on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $4.00.

Spectral AI Stock Performance

Shares of Spectral AI stock opened at $1.64 on Monday. The firm has a fifty day simple moving average of $1.89 and a 200-day simple moving average of $1.75. The stock has a market capitalization of $52.18 million, a price-to-earnings ratio of -3.09 and a beta of 1.17. Spectral AI has a 1-year low of $1.18 and a 1-year high of $2.97.

Spectral AI (NASDAQ:MDAI) last announced its earnings results on Tuesday, May 12th. The company reported ($0.11) EPS for the quarter, hitting the consensus estimate of ($0.11). The firm had revenue of $3.99 million during the quarter, compared to the consensus estimate of $4.12 million. As a group, research analysts predict that Spectral AI will post -0.56 earnings per share for the current year.

Institutional Investors Weigh In On Spectral AI

Several large investors have recently made changes to their positions in the company. Geode Capital Management LLC increased its position in shares of Spectral AI by 21.8% during the 2nd quarter. Geode Capital Management LLC now owns 152,958 shares of the company’s stock worth $379,000 after purchasing an additional 27,365 shares in the last quarter. XTX Topco Ltd acquired a new position in Spectral AI in the second quarter valued at about $123,000. Marshall Wace LLP bought a new stake in Spectral AI during the second quarter worth about $104,000. Jane Street Group LLC bought a new stake in Spectral AI during the second quarter worth about $74,000. Finally, Bridgeway Capital Management LLC increased its holdings in shares of Spectral AI by 14.4% during the third quarter. Bridgeway Capital Management LLC now owns 199,000 shares of the company’s stock worth $454,000 after buying an additional 25,000 shares in the last quarter. Institutional investors own 67.08% of the company’s stock.

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.