Spectral AI’s (MDAI) Buy Rating Reiterated at BTIG Research

BTIG Research reissued their buy rating on shares of Spectral AI (NASDAQ:MDAI) in a report issued on Wednesday morning,Benzinga reports. The brokerage currently has a $3.00 target price on the stock.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Spectral AI in a report on Monday, December 22nd. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, Spectral AI has an average rating of “Hold” and an average target price of $3.25.

Spectral AI Stock Performance

NASDAQ:MDAI opened at $1.49 on Wednesday. The firm’s 50-day moving average is $1.52 and its 200-day moving average is $1.74. Spectral AI has a 52-week low of $1.04 and a 52-week high of $3.21. The company has a market cap of $45.73 million, a price-to-earnings ratio of -4.81 and a beta of 0.98.

Spectral AI (NASDAQ:MDAI) last released its earnings results on Tuesday, March 24th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.15. The company had revenue of $3.85 million during the quarter, compared to the consensus estimate of $2.91 million. Equities analysts predict that Spectral AI will post -0.48 EPS for the current year.

Hedge Funds Weigh In On Spectral AI

Hedge funds and other institutional investors have recently made changes to their positions in the business. Raymond James Financial Inc. boosted its position in shares of Spectral AI by 1,180.0% during the 3rd 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 in the last quarter. Philip James Wealth Mangement LLC acquired a new position in Spectral AI in the third quarter worth about $27,000. Bridgeway Capital Management LLC lifted its stake in Spectral AI by 14.4% during the third quarter. Bridgeway Capital Management LLC now owns 199,000 shares of the company’s stock worth $454,000 after purchasing an additional 25,000 shares during the period. Geode Capital Management LLC lifted its stake in Spectral AI by 21.8% during the second 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 during the period. Finally, Jane Street Group LLC acquired a new stake in Spectral AI during the second quarter valued at approximately $74,000. 67.08% of the stock is owned by institutional investors.

Spectral AI Company Profile

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.