Forum Financial Management LP Acquires New Holdings in Spectral AI, Inc. (NASDAQ:MDAI)

Forum Financial Management LP purchased a new position in shares of Spectral AI, Inc. (NASDAQ:MDAI) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 29,098 shares of the company’s stock, valued at approximately $51,000. Forum Financial Management LP owned approximately 0.17% of Spectral AI at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Virtu Financial LLC bought a new stake in shares of Spectral AI during the 1st quarter worth about $38,000. Murchinson Ltd. bought a new stake in shares of Spectral AI during the 1st quarter worth about $85,000. Cantor Fitzgerald L. P. bought a new stake in shares of Spectral AI during the 4th quarter worth about $38,000. Finally, Highlander Partners L.P. raised its position 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. 67.08% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

MDAI has been the topic of a number of recent analyst reports. HC Wainwright restated a “buy” rating and set a $3.50 price target on shares of Spectral AI in a research report on Tuesday, August 13th. Northland Securities initiated coverage on shares of Spectral AI in a report on Monday, August 12th. They issued an “outperform” rating and a $6.00 target price on the stock. Finally, Northland Capmk upgraded shares of Spectral AI to a “strong-buy” rating in a report on Monday, August 12th.

Spectral AI Trading Down 2.1 %

NASDAQ MDAI opened at $1.43 on Friday. The company’s 50 day simple moving average is $1.68 and its 200 day simple moving average is $1.84. Spectral AI, Inc. has a 12 month low of $1.32 and a 12 month high of $19.50.

Spectral AI (NASDAQ:MDAI) last released its earnings results on Monday, August 12th. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.02). The firm had revenue of $7.48 million for the quarter, compared to analyst estimates of $6.00 million. On average, sell-side analysts anticipate that Spectral AI, Inc. will post -0.64 EPS for the current fiscal year.

Spectral AI 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.