Spectral AI (NASDAQ:MDAI) Rating Increased to Hold at Wall Street Zen

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

Other analysts also recently issued reports about the stock. Northland Securities upgraded shares of Spectral AI to a “strong-buy” rating in a report on Monday, July 27th. Weiss Ratings upgraded shares of Spectral AI from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, June 29th. Finally, BTIG Research boosted 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 equities research 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. According to MarketBeat.com, the company 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 $1.68 on Friday. Spectral AI has a fifty-two week low of $1.18 and a fifty-two week high of $2.97. The company has a market capitalization of $53.46 million, a P/E ratio of -4.80 and a beta of 1.18. The company has a fifty day moving average of $1.71 and a 200 day moving average of $1.75.

Spectral AI (NASDAQ:MDAI) last posted its quarterly earnings results on Tuesday, August 11th. The company reported ($0.13) 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 the consensus estimate of $4.17 million. Analysts forecast that Spectral AI will post -0.52 EPS for the current year.

Hedge Funds Weigh In On Spectral AI

Several hedge funds and other institutional investors have recently modified their holdings of MDAI. Raymond James Financial Inc. increased its stake in shares of Spectral AI by 1,180.0% in the third quarter. Raymond James Financial Inc. now owns 12,800 shares of the company’s stock worth $29,000 after acquiring an additional 11,800 shares during the period. Jane Street Group LLC acquired a new position in Spectral AI during the second quarter valued at $74,000. Virtu Financial LLC purchased a new stake in Spectral AI in the fourth quarter valued at $75,000. Marshall Wace LLP purchased a new stake in Spectral AI in the second quarter valued at $104,000. Finally, State Street Corp grew its position in Spectral AI by 90.9% during the 4th quarter. State Street Corp now owns 75,600 shares of the company’s stock worth $107,000 after purchasing an additional 36,000 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.