Spectral AI’s (MDAI) Buy Rating Reaffirmed at BTIG Research

BTIG Research reissued their buy rating on shares of Spectral AI (NASDAQ:MDAI) in a report published on Tuesday,Benzinga reports. BTIG Research currently has a $3.00 price target on the stock.

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Spectral AI in a research 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. According to data from MarketBeat.com, Spectral AI currently has a consensus rating of “Hold” and an average target price of $3.25.

Spectral AI Trading Up 0.6%

Shares of MDAI opened at $1.56 on Tuesday. The company has a market cap of $47.88 million, a price-to-earnings ratio of -2.11 and a beta of 0.95. The business’s fifty day simple moving average is $1.59 and its two-hundred day simple moving average is $1.91. Spectral AI has a 12 month low of $1.04 and a 12 month high of $3.21.

Spectral AI (NASDAQ:MDAI) last posted its quarterly earnings results on Wednesday, November 12th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.05). The firm had revenue of $3.79 million during the quarter, compared to analysts’ expectations of $5.06 million. As a group, research analysts forecast that Spectral AI will post -0.48 EPS for the current year.

Institutional Investors Weigh In On Spectral AI

A number of hedge funds have recently modified their holdings of MDAI. DNB Asset Management AS bought a new position in Spectral AI in the 2nd quarter worth $107,000. Raymond James Financial Inc. raised its stake in shares of Spectral AI by 1,180.0% in the third quarter. Raymond James Financial Inc. now owns 12,800 shares of the company’s stock worth $29,000 after buying an additional 11,800 shares during the period. Geode Capital Management LLC lifted its position in shares of Spectral AI by 19.0% during the 4th quarter. Geode Capital Management LLC now owns 216,558 shares of the company’s stock valued at $308,000 after buying an additional 34,597 shares in the last quarter. Bridgeway Capital Management LLC grew its stake in shares of Spectral AI by 14.4% during the 3rd quarter. Bridgeway Capital Management LLC now owns 199,000 shares of the company’s stock valued at $454,000 after acquiring an additional 25,000 shares during the period. Finally, XTX Topco Ltd purchased a new stake in Spectral AI in the 2nd quarter worth approximately $123,000. Institutional investors own 67.08% of the company’s stock.

About Spectral AI

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.