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

Key Points

• Wall Street Zen upgraded Spectral AI from “Sell” to “Hold,” while other analysts remain mixed; MarketBeat lists a “Moderate Buy” consensus and a $4.00 average price target.
• Spectral AI reported a quarterly loss of $0.13 per share, slightly better than the $0.14 consensus estimate, but revenue of $3.52 million fell short of the $4.17 million forecast.
• Institutional ownership stands at 67.08%, with several hedge funds recently establishing or expanding positions in the company.

Spectral AI (NASDAQ:MDAI - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued on Saturday, Wall Street Zen reports.

Several other analysts have also recently weighed in on MDAI. Northland Securities upgraded shares of Spectral AI to a "strong-buy" rating in a research report on Monday, July 27th. Weiss Ratings downgraded shares of Spectral AI from a "sell (d-)" rating to a "sell (e+)" rating in a report on Monday, August 31st. Finally, BTIG Research upped their target price on shares of Spectral AI from $3.00 to $4.00 and gave the stock 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. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $4.00.

Spectral AI Trading Up 2.6%

Shares of NASDAQ MDAI opened at $1.60 on Friday. Spectral AI has a 12 month low of $1.18 and a 12 month high of $2.97. The firm has a market capitalization of $51.50 million, a price-to-earnings ratio of -4.57 and a beta of 1.18. The business has a 50-day moving average of $1.64 and a 200-day moving average of $1.74.

Spectral AI (NASDAQ:MDAI - Get Free Report) last posted its quarterly earnings data on Tuesday, August 11th. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.01. The company had revenue of $3.52 million during the quarter, compared to the consensus estimate of $4.17 million. On average, analysts predict that Spectral AI will post -0.5 earnings per share for the current year.

Institutional Trading of Spectral AI

Several hedge funds and other institutional investors have recently bought and sold shares of MDAI. Raymond James Financial Inc. raised its stake in shares of 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 acquiring an additional 11,800 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of Spectral AI in the 2nd quarter valued at $74,000. Marshall Wace LLP purchased a new stake in shares of Spectral AI in the 2nd quarter valued at $104,000. XTX Topco Ltd bought a new position in shares of Spectral AI during the 2nd quarter valued at $123,000. Finally, Virtu Financial LLC purchased a new position in Spectral AI in the 4th quarter worth $75,000. Hedge funds and other institutional investors own 67.08% of the company's stock.

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.

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