Spectral AI (NASDAQ:MDAI) Posts Quarterly Earnings Results, Misses Expectations By $0.02 EPS

Spectral AI (NASDAQ:MDAI) announced its earnings results on Monday. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.02), Yahoo Finance reports. The company had revenue of $7.48 million for the quarter, compared to analyst estimates of $6.00 million. Spectral AI updated its FY 2024 guidance to EPS.

Spectral AI Stock Performance

MDAI stock traded up $0.08 during trading on Wednesday, hitting $1.58. The company had a trading volume of 39,336 shares, compared to its average volume of 1,012,460. The firm has a 50-day moving average price of $1.71 and a 200-day moving average price of $1.90. Spectral AI has a 12 month low of $1.32 and a 12 month high of $19.50.

Wall Street Analysts Forecast Growth

MDAI has been the subject of several recent analyst reports. Northland Capmk raised shares of Spectral AI to a “strong-buy” rating in a report on Monday. HC Wainwright reiterated a “buy” rating and issued a $3.50 price objective on shares of Spectral AI in a research report on Tuesday. Finally, Northland Securities initiated coverage on Spectral AI in a report on Monday. They set an “outperform” rating and a $6.00 target price on the stock.

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.