Spectral AI (NASDAQ:MDAI) Receives Buy Rating from BTIG Research

Spectral AI (NASDAQ:MDAI)‘s stock had its “buy” rating reaffirmed by stock analysts at BTIG Research in a report issued on Tuesday,Benzinga reports. They presently have a $3.00 price objective on the stock. BTIG Research’s target price would indicate a potential upside of 91.69% from the stock’s current price.

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Spectral AI in a research report on Monday, December 22nd. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $3.25.

Spectral AI Stock Up 1.0%

NASDAQ:MDAI traded up $0.02 during trading hours on Tuesday, reaching $1.57. The company had a trading volume of 103,718 shares, compared to its average volume of 328,441. The stock has a 50-day moving average of $1.59 and a two-hundred day moving average of $1.91. Spectral AI has a one year low of $1.04 and a one year high of $3.21. The firm has a market capitalization of $48.03 million, a PE ratio of -2.11 and a beta of 0.94.

Spectral AI (NASDAQ:MDAI) last issued its earnings results on Wednesday, November 12th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.05). The firm had revenue of $3.79 million for the quarter, compared to the consensus estimate of $5.06 million. As a group, sell-side analysts expect that Spectral AI will post -0.48 earnings per share for the current year.

Hedge Funds Weigh In On Spectral AI

Institutional investors have recently modified their holdings of the stock. DNB Asset Management AS grew its position in shares of Spectral AI by 85.2% during the 4th quarter. DNB Asset Management AS now owns 136,473 shares of the company’s stock worth $194,000 after buying an additional 62,768 shares during the period. XTX Topco Ltd bought a new position in shares of Spectral AI during the second quarter worth $123,000. Marshall Wace LLP bought a new stake in shares of Spectral AI in the 2nd quarter valued at $104,000. Forum Financial Management LP increased its position in shares of Spectral AI by 149.3% in the 3rd quarter. Forum Financial Management LP now owns 60,501 shares of the company’s stock valued at $138,000 after buying an additional 36,233 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Spectral AI by 19.0% during 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 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.