Spectral AI’s (MDAI) Buy Rating Reiterated at HC Wainwright

Spectral AI (NASDAQ:MDAI)‘s stock had its “buy” rating reiterated by equities researchers at HC Wainwright in a report issued on Wednesday,Benzinga reports. They presently have a $3.50 price target on the stock. HC Wainwright’s target price suggests a potential upside of 191.67% from the stock’s previous close.

Spectral AI Trading Up 4.3 %

Shares of NASDAQ:MDAI opened at $1.20 on Wednesday. The stock has a fifty day simple moving average of $1.74 and a two-hundred day simple moving average of $1.68. Spectral AI has a 12-month low of $0.82 and a 12-month high of $3.25. The stock has a market capitalization of $22.31 million, a price-to-earnings ratio of -1.85 and a beta of 0.43.

Spectral AI (NASDAQ:MDAI) last issued its quarterly earnings results on Thursday, March 27th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.07. The company had revenue of $7.60 million for the quarter, compared to the consensus estimate of $6.83 million. As a group, equities research analysts predict that Spectral AI will post -0.48 EPS for the current year.

Institutional Investors Weigh In On Spectral AI

Institutional investors have recently made changes to their positions in the company. Millington Financial Advisors LLC bought a new position in Spectral AI in the 4th quarter valued at approximately $85,000. Avantax Planning Partners Inc. raised its stake in shares of Spectral AI by 44.7% in the fourth quarter. Avantax Planning Partners Inc. now owns 231,336 shares of the company’s stock worth $655,000 after purchasing an additional 71,484 shares during the last quarter. Virtu Financial LLC bought a new position in shares of Spectral AI during the fourth quarter valued at $38,000. Renaissance Technologies LLC purchased a new stake in shares of Spectral AI during the fourth quarter valued at $272,000. Finally, Northern Trust Corp bought a new stake in Spectral AI in the 4th quarter worth about $44,000. Hedge funds and other institutional investors own 67.08% of the company’s stock.

Spectral AI Company Profile

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.