Spectral AI (NASDAQ:MDAI) Receives Buy Rating from HC Wainwright

HC Wainwright restated their buy rating on shares of Spectral AI (NASDAQ:MDAI) in a research report report published on Wednesday morning,Benzinga reports. HC Wainwright currently has a $3.50 price objective on the stock.

Spectral AI Price Performance

Shares of NASDAQ:MDAI opened at $1.29 on Wednesday. The stock has a market cap of $29.99 million, a P/E ratio of -1.98 and a beta of 0.62. Spectral AI has a 1-year low of $0.82 and a 1-year high of $3.25. The firm has a fifty day moving average price of $1.72 and a 200 day moving average price of $1.68.

Spectral AI (NASDAQ:MDAI) last released its quarterly earnings results on Thursday, March 27th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.07. The company had revenue of $7.60 million for the quarter, compared to analysts’ expectations of $6.83 million. Sell-side analysts expect that Spectral AI will post -0.48 EPS for the current fiscal year.

Institutional Trading of Spectral AI

Several hedge funds and other institutional investors have recently made changes to their positions in MDAI. Virtu Financial LLC acquired a new stake in Spectral AI in the fourth quarter valued at about $38,000. Northern Trust Corp acquired a new position in Spectral AI during the fourth quarter worth $44,000. Millington Financial Advisors LLC purchased a new position in Spectral AI in the fourth quarter worth $85,000. Jane Street Group LLC acquired a new stake in Spectral AI in the fourth quarter valued at $92,000. Finally, Renaissance Technologies LLC purchased a new stake in shares of Spectral AI during the 4th quarter worth $272,000. 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.