Spectral AI (NASDAQ:MDAI) Price Target Cut to $3.00 by Analysts at BTIG Research

Spectral AI (NASDAQ:MDAI) had its target price lowered by analysts at BTIG Research from $3.50 to $3.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. BTIG Research’s target price suggests a potential upside of 74.42% from the company’s current price.

A number of other equities research analysts have also issued reports on MDAI. Wall Street Zen lowered Spectral AI from a “hold” rating to a “strong sell” rating in a research report on Saturday, August 16th. Weiss Ratings restated a “sell (e+)” rating on shares of Spectral AI in a report on Friday, October 31st. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Spectral AI presently has an average rating of “Hold” and a consensus price target of $3.25.

Spectral AI Trading Down 5.5%

NASDAQ:MDAI opened at $1.72 on Wednesday. The company has a market cap of $52.79 million, a P/E ratio of -2.49 and a beta of 0.91. Spectral AI has a twelve month low of $1.01 and a twelve month high of $3.25. The company’s 50-day moving average price is $2.17 and its 200-day moving average price is $2.09.

Spectral AI (NASDAQ:MDAI) last announced its quarterly earnings data on Tuesday, November 11th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.05). Spectral AI has set its FY 2025 guidance at EPS. On average, analysts expect that Spectral AI will post -0.48 earnings per share for the current year.

Hedge Funds Weigh In On Spectral AI

A number of hedge funds have recently modified their holdings of the business. Forum Financial Management LP increased its position in shares of Spectral AI by 149.3% during the 3rd quarter. Forum Financial Management LP now owns 60,501 shares of the company’s stock worth $138,000 after purchasing an additional 36,233 shares during the last quarter. Geode Capital Management LLC boosted its stake in Spectral AI by 21.8% during the second quarter. Geode Capital Management LLC now owns 152,958 shares of the company’s stock worth $379,000 after buying an additional 27,365 shares during the period. DNB Asset Management AS acquired a new stake in shares of Spectral AI during the second quarter valued at about $107,000. XTX Topco Ltd purchased a new stake in shares of Spectral AI in the 2nd quarter valued at approximately $123,000. Finally, Marshall Wace LLP purchased a new stake in shares of Spectral AI in the 2nd quarter valued at approximately $104,000. 67.08% of the stock is currently owned by hedge funds and other institutional investors.

Spectral AI Company Profile

Spectral AI, Inc, an artificial intelligence (AI) company, focuses on developing predictive medical diagnostics in the United States. The company develops medical diagnostics for faster and accurate treatment decisions in wound care with applications involving patients with burns and diabetic foot ulcers.