Northland Securities Upgrades Spectral AI (NASDAQ:MDAI) to "Strong-Buy"

Key Points

• Northland Securities upgraded Spectral AI to “Strong Buy,” while BTIG Research raised its price target from $3 to $4 and maintained a “Buy” rating. Analysts’ consensus is “Moderate Buy” with an average price target of $4.00.
• MDAI opened at $1.64, compared with a 52-week range of $1.18 to $2.97; the company has a market capitalization of approximately $52.2 million and a negative price-to-earnings ratio.
• Spectral AI reported quarterly revenue of $3.99 million and an EPS loss of $0.11, matching analysts’ EPS estimate but falling short of revenue expectations. Institutional investors own 67.08% of the company, with several firms recently increasing or initiating positions.

Spectral AI (NASDAQ:MDAI - Get Free Report) was upgraded by stock analysts at Northland Securities to a "strong-buy" rating in a report issued on Monday,Zacks.com reports.

MDAI has been the topic of several other reports. BTIG Research lifted 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. Weiss Ratings raised Spectral AI from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Monday, June 29th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $4.00.

Spectral AI Price Performance

MDAI stock opened at $1.64 on Monday. Spectral AI has a 52-week low of $1.18 and a 52-week high of $2.97. The stock's 50 day moving average is $1.89 and its two-hundred day moving average is $1.75. The company has a market capitalization of $52.18 million, a PE ratio of -3.09 and a beta of 1.17.

Spectral AI (NASDAQ:MDAI - Get Free Report) last released its earnings results on Tuesday, May 12th. The company reported ($0.11) EPS for the quarter, meeting the consensus estimate of ($0.11). The business had revenue of $3.99 million for the quarter, compared to analysts' expectations of $4.12 million. As a group, sell-side analysts anticipate that Spectral AI will post -0.56 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in MDAI. Raymond James Financial Inc. raised its holdings 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 acquired a new position in Spectral AI in the 2nd quarter worth about $74,000. Virtu Financial LLC purchased a new stake in shares of Spectral AI during the 4th quarter worth about $75,000. Marshall Wace LLP purchased a new stake in shares of Spectral AI during the 2nd quarter worth about $104,000. Finally, State Street Corp grew its stake in shares of Spectral AI by 90.9% in the 4th quarter. State Street Corp now owns 75,600 shares of the company's stock valued at $107,000 after buying an additional 36,000 shares in the last quarter. Institutional investors and hedge funds 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.

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