Spectral AI (NASDAQ:MDAI) Upgraded at Northland Capmk

Northland Capmk upgraded shares of Spectral AI (NASDAQ:MDAI) to a strong-buy rating in a research note released on Monday, Zacks.com reports. Northland Capmk also issued estimates for Spectral AI’s Q2 2024 earnings at ($0.14) EPS, Q3 2024 earnings at ($0.13) EPS, Q4 2024 earnings at ($0.13) EPS, FY2024 earnings at ($0.60) EPS, FY2025 earnings at ($0.45) EPS and FY2026 earnings at ($0.30) EPS.

A number of other research firms also recently weighed in on MDAI. HC Wainwright reaffirmed a buy rating and set a $3.50 price target on shares of Spectral AI in a research note on Tuesday. Northland Securities started coverage on Spectral AI in a research report on Monday. They issued an outperform rating and a $6.00 target price on the stock.

Spectral AI Stock Up 5.3 %

MDAI opened at $1.58 on Monday. The business’s fifty day simple moving average is $1.71 and its 200 day simple moving average is $1.90. Spectral AI has a 52 week low of $1.32 and a 52 week high of $19.50.

Spectral AI (NASDAQ:MDAI) last issued its quarterly earnings results on Monday, August 12th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.02). The business had revenue of $7.48 million during the quarter, compared to analysts’ expectations of $6.00 million. On average, equities analysts expect that Spectral AI will post -0.62 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in MDAI. Cantor Fitzgerald L. P. purchased a new stake in shares of Spectral AI in the fourth quarter worth about $38,000. Virtu Financial LLC acquired a new position in Spectral AI during the 1st quarter worth approximately $38,000. Forum Financial Management LP purchased a new position in Spectral AI in the 2nd quarter worth approximately $51,000. Murchinson Ltd. acquired a new stake in Spectral AI in the first quarter valued at approximately $85,000. Finally, Highlander Partners L.P. raised its stake in shares of Spectral AI by 18.6% during the fourth quarter. Highlander Partners L.P. now owns 900,000 shares of the company’s stock valued at $2,214,000 after purchasing an additional 141,416 shares during the period. 67.08% of the stock is owned by hedge funds and other institutional investors.

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.