Spectral AI’s (MDAI) Buy Rating Reiterated at BTIG Research

BTIG Research reissued their buy rating on shares of Spectral AI (NASDAQ:MDAI) in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have a $3.00 target price on the stock.

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Spectral AI in a 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’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $3.25.

Spectral AI Price Performance

NASDAQ MDAI opened at $1.51 on Tuesday. Spectral AI has a one year low of $1.04 and a one year high of $3.21. The firm has a market cap of $46.34 million, a P/E ratio of -2.04 and a beta of 0.95. The stock’s 50-day moving average is $1.59 and its 200-day moving average is $1.90.

Spectral AI (NASDAQ:MDAI) last posted its earnings results on Wednesday, November 12th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.05). The company had revenue of $3.79 million during the quarter, compared to analyst estimates of $5.06 million. Equities analysts anticipate that Spectral AI will post -0.48 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC increased its stake in Spectral AI by 21.8% in the 2nd quarter. Geode Capital Management LLC now owns 152,958 shares of the company’s stock valued at $379,000 after buying an additional 27,365 shares during the last quarter. DNB Asset Management AS acquired a new stake in shares of Spectral AI in the second quarter valued at about $107,000. XTX Topco Ltd bought a new stake in Spectral AI during the second quarter worth about $123,000. Marshall Wace LLP acquired a new position in Spectral AI during the second quarter valued at approximately $104,000. Finally, Jane Street Group LLC acquired a new position in Spectral AI during the second quarter valued at approximately $74,000. Institutional investors own 67.08% of the company’s stock.

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.