Spectral AI (NASDAQ:MDAI) Upgraded to “Hold” at Wall Street Zen

Wall Street Zen upgraded shares of Spectral AI (NASDAQ:MDAI) from a sell rating to a hold rating in a research note released on Saturday morning,Wall Street Zen reports.

Several other brokerages have also recently commented on MDAI. Weiss Ratings cut Spectral AI from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, August 31st. BTIG Research upped their price objective on Spectral AI from $3.00 to $4.00 and gave the stock a “buy” rating in a research note on Tuesday, May 26th. Finally, Northland Securities raised Spectral AI to a “strong-buy” rating in a report on Monday, July 27th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $4.00.

Spectral AI Stock Up 2.6%

Shares of MDAI opened at $1.60 on Friday. The stock has a market capitalization of $51.50 million, a P/E ratio of -4.57 and a beta of 1.18. Spectral AI has a twelve month low of $1.18 and a twelve month high of $2.97. The company has a 50 day moving average of $1.64 and a 200-day moving average of $1.74.

Spectral AI (NASDAQ:MDAI) last issued its quarterly earnings results on Tuesday, August 11th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.01. The business had revenue of $3.52 million during the quarter, compared to analyst estimates of $4.17 million. On average, 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

A number of institutional investors and hedge funds have recently modified their holdings of the company. Raymond James Financial Inc. grew its holdings in Spectral AI by 1,180.0% during the third quarter. Raymond James Financial Inc. now owns 12,800 shares of the company’s stock worth $29,000 after purchasing an additional 11,800 shares during the period. Jane Street Group LLC acquired a new stake in shares of Spectral AI in the second quarter valued at approximately $74,000. Virtu Financial LLC bought a new position in shares of Spectral AI during the 4th quarter worth approximately $75,000. Marshall Wace LLP acquired a new position in shares of Spectral AI during the 2nd quarter worth approximately $104,000. Finally, State Street Corp raised its stake in 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 period. 67.08% of the stock is owned by 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.