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

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

MDAI has been the topic of a number of other research reports. BTIG Research boosted their price objective on shares of Spectral AI from $3.00 to $4.00 and gave the stock a “buy” rating in a research report on Tuesday, May 26th. Northland Securities raised shares of Spectral AI to a “strong-buy” rating in a research report on Monday, July 27th. Finally, Weiss Ratings lowered shares of Spectral AI from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, August 31st. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $4.00.

Spectral AI Price Performance

MDAI opened at $1.60 on Friday. The company has a market capitalization of $51.50 million, a price-to-earnings ratio of -4.57 and a beta of 1.18. The business’s 50-day moving average price is $1.64 and its two-hundred day moving average price is $1.75. Spectral AI has a 1 year low of $1.18 and a 1 year high of $2.97.

Spectral AI (NASDAQ:MDAI) last posted its quarterly earnings data on Tuesday, August 11th. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.01. The firm had revenue of $3.52 million for the quarter, compared to analyst estimates of $4.17 million. Sell-side analysts anticipate that Spectral AI will post -0.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Spectral AI

Several hedge funds have recently bought and sold shares of the company. Jane Street Group LLC bought a new stake in Spectral AI in the fourth quarter valued at approximately $75,000. State Street Corp lifted its position in shares of Spectral AI by 90.9% in the fourth quarter. State Street Corp now owns 75,600 shares of the company’s stock valued at $107,000 after buying an additional 36,000 shares during the last quarter. Hudson Bay Capital Management LP bought a new position in shares of Spectral AI during the 4th quarter worth approximately $2,168,000. Bridgeway Capital Management LLC boosted its stake in shares of Spectral AI by 14.4% during the 3rd quarter. Bridgeway Capital Management LLC now owns 199,000 shares of the company’s stock worth $454,000 after acquiring an additional 25,000 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Spectral AI by 21.8% during the 2nd quarter. Geode Capital Management LLC now owns 152,958 shares of the company’s stock worth $379,000 after acquiring an additional 27,365 shares during the period. 67.08% of the stock is currently owned by institutional investors and hedge funds.

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.