Spectral AI (NASDAQ:MDAI) Cut to “Sell” at Wall Street Zen

Wall Street Zen lowered shares of Spectral AI (NASDAQ:MDAI) from a hold rating to a sell rating in a research report released on Sunday morning.

A number of other analysts also recently weighed in on MDAI. Northland Securities upgraded shares of Spectral AI to a “strong-buy” rating in a report on Monday, July 27th. BTIG Research increased their price target on shares of Spectral AI from $3.00 to $4.00 and gave the company a “buy” rating in a report on Tuesday, May 26th. Finally, Weiss Ratings upgraded Spectral AI from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, June 29th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $4.00.

Spectral AI Stock Performance

MDAI stock opened at $1.63 on Friday. The firm has a fifty day moving average price of $1.68 and a 200 day moving average price of $1.74. Spectral AI has a fifty-two week low of $1.18 and a fifty-two week high of $2.97. The firm has a market cap of $52.47 million, a PE ratio of -4.66 and a beta of 1.18.

Spectral AI (NASDAQ:MDAI) last released its quarterly earnings results on Tuesday, August 11th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.01. The business had revenue of $3.52 million for the quarter, compared to analysts’ expectations of $4.17 million. On average, equities analysts predict that Spectral AI will post -0.5 EPS for the current year.

Hedge Funds Weigh In On Spectral AI

A number of large investors have recently made changes to their positions in MDAI. Geode Capital Management LLC grew its holdings in Spectral AI by 21.8% during the 2nd quarter. Geode Capital Management LLC now owns 152,958 shares of the company’s stock valued at $379,000 after purchasing an additional 27,365 shares during the last quarter. XTX Topco Ltd bought a new stake in Spectral AI in the second quarter worth about $123,000. Marshall Wace LLP bought a new stake in Spectral AI in the second quarter worth about $104,000. Jane Street Group LLC purchased a new position in shares of Spectral AI during the second quarter valued at approximately $74,000. Finally, Bridgeway Capital Management LLC boosted its position 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 valued at $454,000 after buying an additional 25,000 shares during the period. 67.08% of the stock is owned by hedge funds and other 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.