Spectral AI (NASDAQ:MDAI) Cut to Strong Sell at Wall Street Zen

Spectral AI (NASDAQ:MDAI) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “strong sell” rating in a research note issued on Saturday.

Spectral AI Price Performance

Shares of NASDAQ:MDAI opened at $2.11 on Friday. The business’s 50-day moving average is $2.42 and its 200 day moving average is $1.83. Spectral AI has a 1 year low of $0.82 and a 1 year high of $3.25. The firm has a market capitalization of $53.43 million, a P/E ratio of -3.06 and a beta of 0.90.

Spectral AI (NASDAQ:MDAI) last announced its earnings results on Tuesday, August 12th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.03). The company had revenue of $5.07 million during the quarter, compared to the consensus estimate of $5.44 million. On average, analysts expect that Spectral AI will post -0.48 EPS for the current year.

Institutional Trading of Spectral AI

Several large investors have recently added to or reduced their stakes in MDAI. Renaissance Technologies LLC purchased a new stake in Spectral AI during the 4th quarter valued at about $272,000. Northern Trust Corp purchased a new stake in Spectral AI during the 4th quarter valued at about $44,000. Jane Street Group LLC purchased a new stake in Spectral AI during the 4th quarter valued at about $92,000. Geode Capital Management LLC grew its stake in Spectral AI by 21.8% during the 2nd quarter. Geode Capital Management LLC now owns 152,958 shares of the company’s stock valued at $379,000 after purchasing an additional 27,365 shares during the last quarter. Finally, DNB Asset Management AS purchased a new stake in Spectral AI during the 2nd quarter valued at about $107,000. Hedge funds and other institutional investors own 67.08% of the company’s stock.

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.