Spectral AI (NASDAQ:MDAI) Upgraded at Wall Street Zen

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

A number of other analysts have also weighed in on MDAI. Northland Securities raised Spectral AI to a “strong-buy” rating in a research report on Monday, July 27th. Weiss Ratings lowered Spectral AI from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, August 31st. Finally, BTIG Research boosted 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. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $4.00.

Spectral AI Stock Performance

NASDAQ MDAI opened at $1.61 on Friday. The firm has a market cap of $51.83 million, a price-to-earnings ratio of -4.60 and a beta of 1.18. The firm has a 50 day simple moving average of $1.63 and a 200-day simple moving average of $1.75. Spectral AI has a one year low of $1.18 and a one year high of $2.97.

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

Institutional Inflows and Outflows

An institutional investor recently raised its position in Spectral AI stock. DNB Asset Management AS lifted its holdings in shares of Spectral AI, Inc. (NASDAQ:MDAI) by 85.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 136,473 shares of the company’s stock after acquiring an additional 62,768 shares during the period. DNB Asset Management AS owned 0.44% of Spectral AI worth $194,000 at the end of the most recent reporting period. 67.08% of the stock is currently owned by institutional investors and hedge funds.

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.