Spectral AI (NASDAQ:MDAI) Trading Up 3.5% – Still a Buy?

Spectral AI, Inc. (NASDAQ:MDAI)’s stock price traded up 3.5% on Thursday . The company traded as high as $1.54 and last traded at $1.47. 289,338 shares traded hands during trading, an increase of 3% from the average session volume of 280,457 shares. The stock had previously closed at $1.42.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. BTIG Research decreased their target price on Spectral AI from $3.50 to $3.00 and set a “buy” rating for the company in a research report on Wednesday, November 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Spectral AI in a research note on Monday. 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 MarketBeat.com, Spectral AI has an average rating of “Hold” and a consensus target price of $3.25.

Spectral AI Trading Up 5.4%

The firm has a market capitalization of $47.57 million, a price-to-earnings ratio of -2.09 and a beta of 0.93. The company has a fifty day moving average price of $1.83 and a 200-day moving average price of $2.11.

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

Institutional Investors Weigh In On Spectral AI

Several large investors have recently made changes to their positions in MDAI. Philip James Wealth Mangement LLC acquired a new stake in Spectral AI in the 3rd quarter valued at about $27,000. Raymond James Financial Inc. boosted its position in shares of Spectral AI by 1,180.0% in the 3rd quarter. Raymond James Financial Inc. now owns 12,800 shares of the company’s stock worth $29,000 after purchasing an additional 11,800 shares during the last quarter. Jane Street Group LLC bought a new stake in Spectral AI in the second quarter valued at about $74,000. Marshall Wace LLP acquired a new position in Spectral AI in the second quarter valued at about $104,000. Finally, DNB Asset Management AS bought a new position in Spectral AI during the 2nd quarter worth approximately $107,000. Institutional investors 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.