Spectral AI (NASDAQ:MDAI) Stock Price Up 1.1%

Spectral AI, Inc. (NASDAQ:MDAI) rose 1.1% during mid-day trading on Tuesday . The company traded as high as $1.87 and last traded at $1.83. Approximately 81,090 shares were traded during mid-day trading, a decline of 96% from the average daily volume of 1,820,580 shares. The stock had previously closed at $1.81.

Analysts Set New Price Targets

Separately, BTIG Research initiated coverage on Spectral AI in a research report on Tuesday, January 23rd. They issued a “buy” rating and a $4.00 target price for the company.

Spectral AI Price Performance

The business has a 50-day moving average of $2.13 and a 200-day moving average of $2.45.

Spectral AI (NASDAQ:MDAI) last announced its earnings results on Friday, March 29th. The company reported ($0.22) earnings per share (EPS) for the quarter. The company had revenue of $5.29 million during the quarter.

Institutional Trading of Spectral AI

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cantor Fitzgerald L. P. purchased a new stake in Spectral AI during the 4th quarter valued at approximately $38,000. Citigroup Inc. purchased a new position in shares of Spectral AI during the 3rd quarter worth approximately $62,000. Hsbc Holdings PLC purchased a new position in shares of Spectral AI during the 3rd quarter worth approximately $224,000. Highlander Partners L.P. raised its stake in shares of Spectral AI by 18.6% during the 4th quarter. Highlander Partners L.P. now owns 900,000 shares of the company’s stock worth $2,214,000 after buying an additional 141,416 shares in the last quarter. Finally, Rathbones Group PLC purchased a new position in shares of Spectral AI during the 3rd quarter worth approximately $1,119,000. 67.08% of the stock is owned by hedge funds and other institutional investors.

Spectral AI Company Profile

Spectral AI, Inc operates as an artificial intelligence (AI) company. The company focuses on medical diagnostics for faster and accurate treatment decisions in wound care with applications involving patients with burns and diabetic foot ulcers. Its products include DeepView, a predictive diagnostic device that offers clinicians an objective and immediate assessment of a wound's healing potential prior to treatment or other medical intervention.