Spectral AI (NASDAQ:MDAI) Shares Up 0.7% – Here’s Why

Spectral AI, Inc. (NASDAQ:MDAI)’s stock price rose 0.7% during trading on Monday. The company traded as high as $1.53 and last traded at $1.52. Approximately 51,588 shares changed hands during trading, a decline of 63% from the average daily volume of 137,905 shares. The stock had previously closed at $1.51.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Weiss Ratings lowered shares of Spectral AI from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, October 13th. Northland Securities upgraded shares of Spectral AI to a “strong-buy” rating in a research report on Monday, July 27th. Finally, Wall Street Zen upgraded shares of Spectral AI from a “sell” rating to a “hold” rating in a report on Saturday, September 12th. One equities research 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 data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $4.00.

Spectral AI Price Performance

The firm has a market cap of $48.60 million, a P/E ratio of -4.31 and a beta of 1.21. The firm’s fifty day moving average is $1.60 and its two-hundred day moving average is $1.78.

Spectral AI (NASDAQ:MDAI) last issued its quarterly earnings data on Tuesday, August 11th. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.01. The company had revenue of $3.52 million during the quarter, compared to the consensus estimate of $4.17 million. As a group, sell-side analysts forecast that Spectral AI, Inc. will post -0.50 EPS for the current year.

Spectral AI Company Profile

Spectral AI, Inc is a medical technology company that develops artificial intelligence and multispectral imaging solutions for wound-care diagnostics. Its technology is designed to help clinicians assess wounds and predict healing outcomes more quickly and objectively than visual examination alone.

The company’s principal product is the DeepView System, a noninvasive imaging and decision-support platform intended to evaluate the healing potential of burns and other wounds, including diabetic foot ulcers.