Spectral AI (NASDAQ:MDAI) Downgraded by Wall Street Zen to Strong Sell

Key Points

• Spectral AI has been downgraded from a "hold" to a "strong sell" rating by Wall Street Zen, indicating a significant change in analysts' outlook on the company's stock.
• The company's latest earnings report showed a loss of ($0.10) per share, missing the consensus estimate, while revenue fell short at $5.07 million against an expected $5.44 million.
• Institutional investors hold a substantial 67.08% of Spectral AI's stock, with several firms recently increasing their stakes, indicating ongoing interest despite the downgrade.

Spectral AI (NASDAQ:MDAI - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "hold" rating to a "strong sell" rating in a research report issued to clients and investors on Saturday.

Spectral AI Trading Down 3.3%

Shares of NASDAQ:MDAI traded down $0.07 during trading on Friday, hitting $2.04. 263,863 shares of the company were exchanged, compared to its average volume of 419,618. The stock has a market cap of $51.65 million, a price-to-earnings ratio of -2.96 and a beta of 0.90. Spectral AI has a fifty-two week low of $0.82 and a fifty-two week high of $3.25. The firm has a fifty day moving average price of $2.42 and a two-hundred day moving average price of $1.84.

Spectral AI (NASDAQ:MDAI - Get Free Report) last posted its quarterly earnings results on Tuesday, August 12th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.03). The business had revenue of $5.07 million during the quarter, compared to analysts' expectations of $5.44 million. Spectral AI has set its FY 2025 guidance at EPS. As a group, research analysts predict that Spectral AI will post -0.48 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Jane Street Group LLC bought a new position in Spectral AI during the fourth quarter worth $92,000. Renaissance Technologies LLC bought a new position in shares of Spectral AI in the fourth quarter valued at about $272,000. Northern Trust Corp acquired a new stake in shares of Spectral AI during the 4th quarter worth about $44,000. Geode Capital Management LLC lifted its stake in shares of Spectral AI by 21.8% during the 2nd quarter. Geode Capital Management LLC now owns 152,958 shares of the company's stock worth $379,000 after buying an additional 27,365 shares during the last quarter. Finally, XTX Topco Ltd acquired a new position in Spectral AI in the 2nd quarter valued at about $123,000. 67.08% of the stock is owned by institutional investors and hedge funds.

About Spectral AI

Spectral AI, Inc, an artificial intelligence (AI) company, focuses on developing predictive medical diagnostics in the United States. The company develops medical diagnostics for faster and accurate treatment decisions in wound care with applications involving patients with burns and diabetic foot ulcers.