Spectral AI, Inc. (NASDAQ:MDAI) Forecasted to Earn Q2 2024 Earnings of ($0.14) Per Share

Spectral AI, Inc. (NASDAQ:MDAI) – Equities researchers at Northland Capmk issued their Q2 2024 earnings per share estimates for shares of Spectral AI in a research note issued to investors on Monday, August 12th. Northland Capmk analyst C. Byrnes anticipates that the company will post earnings per share of ($0.14) for the quarter. Northland Capmk currently has a “Strong-Buy” rating on the stock. The consensus estimate for Spectral AI’s current full-year earnings is ($0.62) per share. Northland Capmk also issued estimates for Spectral AI’s Q3 2024 earnings at ($0.13) EPS, Q4 2024 earnings at ($0.13) EPS, FY2024 earnings at ($0.60) EPS, FY2025 earnings at ($0.45) EPS and FY2026 earnings at ($0.30) EPS.

Several other brokerages also recently issued reports on MDAI. HC Wainwright reiterated a “buy” rating and issued a $3.50 price target on shares of Spectral AI in a report on Tuesday. Northland Securities assumed coverage on Spectral AI in a report on Monday. They set an “outperform” rating and a $6.00 target price on the stock.

Spectral AI Price Performance

Shares of MDAI stock opened at $1.65 on Wednesday. The company’s fifty day simple moving average is $1.71 and its 200-day simple moving average is $1.89. Spectral AI has a 52 week low of $1.32 and a 52 week high of $19.50.

Spectral AI (NASDAQ:MDAI) last released its quarterly earnings data on Monday, August 12th. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.02). The firm had revenue of $7.48 million during the quarter, compared to analyst estimates of $6.00 million.

Institutional Investors Weigh In On Spectral AI

Large investors have recently added to or reduced their stakes in the company. Highlander Partners L.P. boosted its position in Spectral AI by 18.6% in the 4th quarter. Highlander Partners L.P. now owns 900,000 shares of the company’s stock valued at $2,214,000 after buying an additional 141,416 shares during the last quarter. Murchinson Ltd. acquired a new stake in Spectral AI during the 1st quarter valued at approximately $85,000. Forum Financial Management LP purchased a new stake in Spectral AI during the 2nd quarter worth approximately $51,000. Virtu Financial LLC acquired a new position in shares of Spectral AI in the 1st quarter valued at approximately $38,000. Finally, Cantor Fitzgerald L. P. acquired a new stake in shares of Spectral AI during the fourth quarter worth approximately $38,000. 67.08% of the stock is owned by institutional investors and hedge funds.

Spectral AI Company Profile

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.