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

Key Points

• Wall Street Zen upgraded Spectral AI from “sell” to “hold,” while other analysts issued mixed ratings; the stock has an overall “Moderate Buy” consensus and an average price target of $4.00.
• Spectral AI shares opened at $1.68, with a 52-week range of $1.18 to $2.97 and a market capitalization of approximately $53.5 million.
• The company’s latest quarterly loss of $0.13 per share was slightly better than expected, but revenue of $3.52 million fell short of the $4.17 million consensus estimate; institutional investors own 67.08% of the stock.

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

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

Spectral AI Price Performance

Shares of Spectral AI stock opened at $1.68 on Friday. Spectral AI has a 1 year low of $1.18 and a 1 year high of $2.97. The firm's 50-day moving average is $1.71 and its two-hundred day moving average is $1.75. The stock has a market cap of $53.46 million, a price-to-earnings ratio of -4.80 and a beta of 1.18.

Spectral AI (NASDAQ:MDAI - Get Free Report) last posted its quarterly earnings results on Tuesday, August 11th. The company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.01. The business had revenue of $3.52 million during the quarter, compared to the consensus estimate of $4.17 million. On average, equities analysts expect that Spectral AI will post -0.52 earnings per share for the current year.

Institutional Inflows and Outflows

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