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

Wall Street Zen downgraded shares of Spectral AI (NASDAQ:MDAI) from a hold rating to a sell rating in a research report report published on Sunday morning.

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

Spectral AI Price Performance

Shares of NASDAQ MDAI opened at $1.60 on Friday. The firm’s fifty day moving average is $1.69 and its 200 day moving average is $1.74. Spectral AI has a 52 week low of $1.18 and a 52 week high of $2.97. The company has a market cap of $50.92 million, a price-to-earnings ratio of -4.57 and a beta of 1.18.

Spectral AI (NASDAQ:MDAI) last announced its quarterly earnings results on Tuesday, August 11th. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.01. The firm had revenue of $3.52 million for the quarter, compared to analysts’ expectations of $4.17 million. Equities research analysts anticipate that Spectral AI will post -0.5 earnings per share for the current year.

Institutional Trading of Spectral AI

Several large investors have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. increased its position in Spectral AI by 1,180.0% during the 3rd quarter. Raymond James Financial Inc. now owns 12,800 shares of the company’s stock valued at $29,000 after purchasing an additional 11,800 shares during the period. Jane Street Group LLC purchased a new stake in shares of Spectral AI in the 2nd quarter worth about $74,000. Marshall Wace LLP purchased a new stake in shares of Spectral AI in the 2nd quarter worth about $104,000. XTX Topco Ltd bought a new stake in shares of Spectral AI during the 2nd quarter valued at about $123,000. Finally, Virtu Financial LLC bought a new stake in shares of Spectral AI during the 4th quarter valued at about $75,000. Institutional investors own 67.08% of the company’s stock.

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.