Spectral AI, Inc. (NASDAQ:MDAI – Get Free Report) shares traded up 1.6% during mid-day trading on Thursday . The company traded as high as $1.89 and last traded at $1.86. 245,533 shares changed hands during trading, a decline of 77% from the average session volume of 1,083,905 shares. The stock had previously closed at $1.83.
Analyst Upgrades and Downgrades
A number of analysts recently issued reports on the stock. BTIG Research increased their target price on shares of Spectral AI from $3.00 to $4.00 and gave the stock a “buy” rating in a research report on Tuesday, May 26th. Weiss Ratings downgraded shares of Spectral AI from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Spectral AI presently has an average rating of “Hold” and an average target price of $4.00.
Read Our Latest Analysis on Spectral AI
Spectral AI Price Performance
Spectral AI (NASDAQ:MDAI – Get Free Report) last issued its quarterly earnings data on Tuesday, May 12th. The company reported ($0.11) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.11). The firm had revenue of $3.99 million during the quarter, compared to analyst estimates of $4.13 million. Equities analysts predict that Spectral AI, Inc. will post -0.5 EPS for the current fiscal year.
Institutional Trading of Spectral AI
A number of hedge funds have recently made changes to their positions in the stock. Raymond James Financial Inc. grew its position in shares of Spectral AI by 1,180.0% during 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 in the last quarter. Bridgeway Capital Management LLC grew its position in shares of Spectral AI by 14.4% during the third quarter. Bridgeway Capital Management LLC now owns 199,000 shares of the company’s stock worth $454,000 after buying an additional 25,000 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Spectral AI by 21.8% during the second quarter. Geode Capital Management LLC now owns 152,958 shares of the company’s stock worth $379,000 after buying an additional 27,365 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of Spectral AI during the second quarter worth approximately $74,000. Finally, DNB Asset Management AS grew its position in shares of Spectral AI by 71.3% during the third quarter. DNB Asset Management AS now owns 73,705 shares of the company’s stock worth $168,000 after buying an additional 30,681 shares in the last quarter. 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.
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