Spectral AI (NASDAQ:MDAI) Announces Quarterly Earnings Results, Misses Expectations By $0.03 EPS

Key Points

• Spectral AI reported a loss of ($0.10) earnings per share (EPS), missing analysts' expectations by ($0.03).
• The company's stock price decreased $0.13 to $2.23, with a market capitalization of $56.46 million.
• Geode Capital Management LLC increased its stake in Spectral AI by 21.8%, now owning 67.08% of the company's shares.

Spectral AI (NASDAQ:MDAI - Get Free Report) announced its quarterly earnings data on Tuesday. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.03), Zacks reports. The firm had revenue of $5.07 million for the quarter, compared to the consensus estimate of $5.44 million. Spectral AI updated its FY 2025 guidance to EPS.

Spectral AI Trading Up 0.5%

NASDAQ:MDAI traded up $0.01 during midday trading on Friday, reaching $2.11. 130,450 shares of the stock traded hands, compared to its average volume of 435,978. The company has a fifty day moving average of $2.42 and a 200 day moving average of $1.83. Spectral AI has a 12 month low of $0.82 and a 12 month high of $3.25.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in MDAI. XTX Topco Ltd bought a new position in Spectral AI in the 2nd quarter worth $123,000. Marshall Wace LLP bought a new position in Spectral AI in the 2nd quarter worth $104,000. Jane Street Group LLC bought a new position in Spectral AI in the 2nd quarter worth $74,000. Finally, Geode Capital Management LLC raised its holdings in Spectral AI by 21.8% in the 2nd quarter. Geode Capital Management LLC now owns 152,958 shares of the company's stock worth $379,000 after purchasing an additional 27,365 shares in the last quarter. 67.08% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered shares of Spectral AI from a "hold" rating to a "strong sell" rating in a report on Saturday.

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.