Spectral AI (NASDAQ:MDAI) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Spectral AI (NASDAQ:MDAI) from a sell rating to a hold rating in a research report report published on Saturday.

Other equities research analysts have also recently issued research reports about the stock. BTIG Research boosted their target price 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. Weiss Ratings raised shares of Spectral AI from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, June 29th. Finally, Northland Securities upgraded shares of Spectral AI to a “strong-buy” rating in a research note on Monday, July 27th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Spectral AI has an average rating of “Moderate Buy” and a consensus price target of $4.00.

Spectral AI Price Performance

MDAI opened at $1.64 on Friday. The business has a fifty day simple moving average of $1.71 and a 200 day simple moving average of $1.75. The company has a market capitalization of $52.19 million, a PE ratio of -4.69 and a beta of 1.18. Spectral AI has a 1 year low of $1.18 and a 1 year high of $2.97.

Spectral AI (NASDAQ:MDAI) last issued its quarterly earnings data on Tuesday, August 11th. The company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.01. The firm had revenue of $3.52 million during the quarter, compared to analyst estimates of $4.17 million. Equities analysts anticipate that Spectral AI will post -0.52 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Spectral AI

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. lifted its position in shares of Spectral AI by 1,180.0% during the 3rd quarter. Raymond James Financial Inc. now owns 12,800 shares of the company’s stock valued at $29,000 after acquiring an additional 11,800 shares during the period. Jane Street Group LLC bought a new position in shares of Spectral AI in the second quarter worth $74,000. Marshall Wace LLP bought a new position in shares of Spectral AI in the second quarter worth $104,000. XTX Topco Ltd acquired a new position in Spectral AI in the second quarter valued at about $123,000. Finally, Virtu Financial LLC acquired a new position in Spectral AI in the fourth quarter valued at about $75,000. 67.08% of the stock is owned by institutional investors and hedge funds.

About Spectral AI

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.