Spectral AI (NASDAQ:MDAI) Stock Rating Upgraded by Wall Street Zen

Spectral AI (NASDAQ:MDAI) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday.

Other equities research analysts have also recently issued reports about the company. Weiss Ratings raised Spectral AI from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, June 29th. Northland Securities raised Spectral AI to a “strong-buy” rating in a research note on Monday, July 27th. Finally, BTIG Research raised their price target on Spectral AI from $3.00 to $4.00 and gave the company a “buy” rating in a report on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $4.00.

Spectral AI Price Performance

MDAI stock opened at $1.68 on Friday. Spectral AI has a 1-year low of $1.18 and a 1-year high of $2.97. The business has a 50 day simple moving average of $1.71 and a two-hundred day simple moving average of $1.75. The company has a market capitalization of $53.46 million, a price-to-earnings ratio of -4.80 and a beta of 1.18.

Spectral AI (NASDAQ:MDAI) last issued its earnings results on Tuesday, August 11th. The company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.01. The company had revenue of $3.52 million for the quarter, compared to the consensus estimate of $4.17 million. Sell-side analysts anticipate that Spectral AI will post -0.52 EPS for the current fiscal year.

Hedge Funds Weigh In On Spectral AI

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Virtu Financial LLC bought a new stake in shares of Spectral AI in the 4th quarter worth about $75,000. Hudson Bay Capital Management LP purchased a new stake in shares of Spectral AI during the 4th quarter valued at about $2,168,000. State Street Corp lifted its holdings in shares of Spectral AI by 90.9% in the 4th quarter. State Street Corp now owns 75,600 shares of the company’s stock valued at $107,000 after acquiring an additional 36,000 shares during the last quarter. Jane Street Group LLC bought a new position in shares of Spectral AI in the 4th quarter valued at about $75,000. Finally, Geode Capital Management LLC grew its position in Spectral AI by 19.0% in the fourth quarter. Geode Capital Management LLC now owns 216,558 shares of the company’s stock worth $308,000 after acquiring an additional 34,597 shares in the last quarter. 67.08% of the stock is owned by hedge funds and other institutional investors.

About Spectral AI

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.