Spectral AI (NASDAQ:MDAI) Rating Lowered to “Sell” at Wall Street Zen

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

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

Spectral AI Stock Performance

Shares of NASDAQ:MDAI opened at $1.60 on Friday. Spectral AI has a 12 month low of $1.18 and a 12 month high of $2.97. The company has a 50-day moving average price of $1.68 and a 200 day moving average price of $1.74. The company has a market cap of $51.50 million, a price-to-earnings ratio of -4.57 and a beta of 1.18.

Spectral AI (NASDAQ:MDAI) last issued 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 company had revenue of $3.52 million for the quarter, compared to the consensus estimate of $4.17 million. As a group, equities analysts forecast that Spectral AI will post -0.5 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of MDAI. Hudson Bay Capital Management LP purchased a new position in Spectral AI during the 4th quarter valued at $2,168,000. State Street Corp increased its stake in Spectral AI by 90.9% in the fourth quarter. State Street Corp now owns 75,600 shares of the company’s stock worth $107,000 after purchasing an additional 36,000 shares during the period. Geode Capital Management LLC increased its stake 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 purchasing an additional 34,597 shares during the period. Bridgeway Capital Management LLC lifted its position in shares of 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 last quarter. Finally, XTX Topco Ltd bought a new stake in shares of Spectral AI during the second quarter worth $123,000. Institutional investors own 67.08% of the company’s stock.

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.