Spectral AI (NASDAQ:MDAI) Lifted to “Strong-Buy” at Northland Capmk

Northland Capmk upgraded shares of Spectral AI (NASDAQ:MDAI) to a strong-buy rating in a research note published on Monday morning, Zacks.com reports. Northland Capmk also issued estimates for Spectral AI’s Q2 2024 earnings at ($0.14) EPS, Q3 2024 earnings at ($0.13) EPS, Q3 2024 earnings at ($0.16) EPS, Q4 2024 earnings at ($0.15) EPS, Q4 2024 earnings at ($0.13) EPS, FY2024 earnings at ($0.67) EPS, FY2024 earnings at ($0.60) EPS, FY2025 earnings at ($0.45) EPS and FY2026 earnings at ($0.30) EPS.

MDAI has been the subject of a number of other reports. HC Wainwright restated a buy rating and set a $3.50 price objective on shares of Spectral AI in a research note on Tuesday. Northland Securities started coverage on shares of Spectral AI in a research report on Monday. They set an outperform rating and a $6.00 price target for the company.

Spectral AI Stock Up 4.4 %

Spectral AI stock opened at $1.65 on Monday. Spectral AI has a fifty-two week low of $1.32 and a fifty-two week high of $19.50. The stock’s 50 day simple moving average is $1.71 and its two-hundred day simple moving average is $1.89.

Spectral AI (NASDAQ:MDAI) last issued its quarterly earnings results on Monday, August 12th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.02). The company had revenue of $7.48 million for the quarter, compared to the consensus estimate of $6.00 million. Sell-side analysts forecast that Spectral AI will post -0.62 earnings per share for the current year.

Institutional Trading of Spectral AI

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