Spectral AI (NASDAQ:MDAI) Shares Down 2.5% – Time to Sell?

Spectral AI, Inc. (NASDAQ:MDAI) shares were down 2.5% on Wednesday . The stock traded as low as $2.29 and last traded at $2.31. Approximately 593,899 shares were traded during trading, an increase of 67% from the average daily volume of 356,206 shares. The stock had previously closed at $2.37.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut shares of Spectral AI from a “hold” rating to a “strong sell” rating in a research note on Saturday, August 16th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Spectral AI has a consensus rating of “Buy” and an average price target of $3.50.

Spectral AI Price Performance

The company’s 50-day simple moving average is $2.21 and its two-hundred day simple moving average is $1.86. The firm has a market capitalization of $61.75 million, a P/E ratio of -3.35 and a beta of 0.88.

Spectral AI (NASDAQ:MDAI) last announced its earnings results on Tuesday, August 12th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates 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. Spectral AI has set its FY 2025 guidance at EPS. Analysts predict that Spectral AI, Inc. will post -0.48 earnings per share for the current year.

Hedge Funds Weigh In On Spectral AI

Several large investors have recently added to or reduced their stakes in the company. Northern Trust Corp purchased a new position in shares of Spectral AI during the 4th quarter valued at $44,000. Jane Street Group LLC purchased a new position in shares of Spectral AI in the second quarter valued at about $74,000. Marshall Wace LLP bought a new position in shares of Spectral AI in the second quarter worth about $104,000. DNB Asset Management AS purchased a new stake in shares of Spectral AI during the second quarter worth about $107,000. Finally, XTX Topco Ltd bought a new stake in Spectral AI during the 2nd quarter valued at approximately $123,000. Hedge funds and other institutional investors own 67.08% of the company’s stock.

About Spectral AI

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.