Spectral AI (NASDAQ:MDAI) Stock Price Down 3.1% – What’s Next?

Shares of Spectral AI, Inc. (NASDAQ:MDAI) traded down 3.1% on Friday . The company traded as low as $1.52 and last traded at $1.54. 260,914 shares traded hands during trading, a decline of 3% from the average session volume of 267,972 shares. The stock had previously closed at $1.59.

Analyst Ratings Changes

MDAI has been the subject of a number of recent research reports. BTIG Research decreased their price target on shares of Spectral AI from $3.50 to $3.00 and set a “buy” rating for the company in a research note on Wednesday, November 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Spectral AI in a report on Monday, December 22nd. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $3.25.

Spectral AI Trading Down 3.1%

The firm’s fifty day moving average price is $1.59 and its 200-day moving average price is $2.06. The firm has a market cap of $47.26 million, a price-to-earnings ratio of -2.08 and a beta of 0.94.

Spectral AI (NASDAQ:MDAI) last announced its quarterly earnings results on Wednesday, November 12th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.05). The company had revenue of $3.79 million for the quarter, compared to analysts’ expectations of $5.06 million. On average, sell-side analysts expect that Spectral AI, Inc. will post -0.48 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Philip James Wealth Mangement LLC purchased a new stake in Spectral AI in the third quarter valued at approximately $27,000. Raymond James Financial Inc. raised its position in Spectral AI by 1,180.0% in the 3rd quarter. Raymond James Financial Inc. now owns 12,800 shares of the company’s stock valued at $29,000 after purchasing an additional 11,800 shares during the last quarter. Jane Street Group LLC purchased a new stake in Spectral AI in the 2nd quarter valued at $74,000. Marshall Wace LLP acquired a new stake in Spectral AI during the 2nd quarter worth $104,000. Finally, DNB Asset Management AS purchased a new position in Spectral AI during the 2nd quarter worth $107,000. Institutional investors and hedge funds own 67.08% of the company’s stock.

Spectral AI Company Profile

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.