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

Key Points

• Wall Street Zen downgraded Spectral AI to “sell” from “hold,” although other analysts remain more optimistic. The consensus rating is “Moderate Buy,” with an average price target of $4.00.
• Spectral AI shares opened at $1.60, compared with a 12-month range of $1.18 to $2.97. The company has a market capitalization of about $50.9 million and trades below both its 50-day and 200-day moving averages.
• In its latest quarter, Spectral AI reported a narrower-than-expected loss of $0.13 per share but missed revenue estimates, generating $3.52 million versus $4.17 million expected. Institutional investors own approximately 67.08% of the company.

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

Other equities analysts have also issued reports about the stock. 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 research note on Tuesday, May 26th. Northland Securities upgraded shares of Spectral AI to a "strong-buy" rating in a research report on Monday, July 27th. Finally, Weiss Ratings upgraded shares of Spectral AI from a "sell (e+)" rating to a "sell (d-)" rating in a report on Monday, June 29th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $4.00.

Spectral AI Price Performance

MDAI stock 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 company has a market capitalization of $50.91 million, a P/E ratio of -4.57 and a beta of 1.18. The firm's fifty day simple moving average is $1.69 and its 200-day simple moving average is $1.74.

Spectral AI (NASDAQ:MDAI - Get Free Report) last issued its earnings results 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 business had revenue of $3.52 million for the quarter, compared to analyst estimates of $4.17 million. As a group, sell-side analysts forecast that Spectral AI will post -0.5 earnings per share for the current year.

Institutional Investors Weigh In On Spectral AI

Several large investors have recently modified their holdings of MDAI. Hudson Bay Capital Management LP acquired a new stake in shares of Spectral AI during the fourth quarter worth $2,168,000. Geode Capital Management LLC increased its stake in Spectral AI by 19.0% in the 4th quarter. Geode Capital Management LLC now owns 216,558 shares of the company's stock valued at $308,000 after buying an additional 34,597 shares during the period. Bridgeway Capital Management LLC raised its position in Spectral AI by 14.4% during the 3rd quarter. Bridgeway Capital Management LLC now owns 199,000 shares of the company's stock worth $454,000 after buying an additional 25,000 shares during the last quarter. DNB Asset Management AS raised its position in Spectral AI by 85.2% during the 4th quarter. DNB Asset Management AS now owns 136,473 shares of the company's stock worth $194,000 after buying an additional 62,768 shares during the last quarter. Finally, State Street Corp lifted 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 worth $107,000 after acquiring an additional 36,000 shares during the period. 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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