Spectral AI (NASDAQ:MDAI) Now Covered by Analysts at Northland Securities

Northland Securities started coverage on shares of Spectral AI (NASDAQ:MDAI) in a report issued on Monday morning, Benzinga reports. The brokerage issued an outperform rating and a $6.00 target price on the stock.

Separately, HC Wainwright began coverage on shares of Spectral AI in a research report on Thursday, July 18th. They set a buy rating and a $3.50 price target for the company.

Spectral AI Trading Up 4.4 %

Shares of NASDAQ:MDAI opened at $1.65 on Monday. Spectral AI has a 52-week low of $1.32 and a 52-week high of $19.50. The firm has a fifty day moving average of $1.71 and a 200 day moving average of $1.89.

Spectral AI (NASDAQ:MDAI) last released its earnings results on Monday, August 12th. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.02). The company had revenue of $7.48 million during the quarter, compared to the consensus estimate of $6.00 million. As a group, equities analysts anticipate that Spectral AI will post -0.62 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Cantor Fitzgerald L. P. purchased a new position in Spectral AI during the 4th quarter valued at about $38,000. Virtu Financial LLC purchased a new stake in Spectral AI in the 1st quarter worth approximately $38,000. Highlander Partners L.P. grew its position in shares of Spectral AI by 18.6% in the 4th quarter. Highlander Partners L.P. now owns 900,000 shares of the company’s stock worth $2,214,000 after buying an additional 141,416 shares during the last quarter. Forum Financial Management LP purchased a new position in shares of Spectral AI during the second quarter valued at approximately $51,000. Finally, Murchinson Ltd. bought a new position in shares of Spectral AI during the first quarter valued at approximately $85,000. 67.08% of the stock is owned by hedge funds and other institutional investors.

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.