BTIG Research Reiterates Buy Rating for Spectral AI (NASDAQ:MDAI)

Spectral AI (NASDAQ:MDAI)‘s stock had its “buy” rating restated by stock analysts at BTIG Research in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $3.00 price objective on the stock. BTIG Research’s price target indicates a potential upside of 94.81% from the stock’s current price.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Spectral AI in a research note on Monday, December 22nd. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $3.25.

Spectral AI Stock Down 1.3%

Shares of Spectral AI stock opened at $1.54 on Tuesday. Spectral AI has a twelve month low of $1.04 and a twelve month high of $3.21. The business has a 50-day moving average price of $1.59 and a 200-day moving average price of $1.90. The firm has a market cap of $47.26 million, a price-to-earnings ratio of -2.08 and a beta of 0.95.

Spectral AI (NASDAQ:MDAI) last announced its quarterly earnings results on Wednesday, November 12th. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.05). The company had revenue of $3.79 million during the quarter, compared to the consensus estimate of $5.06 million. On average, equities analysts expect that Spectral AI will post -0.48 EPS for the current fiscal year.

Institutional Investors Weigh In On Spectral AI

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its position in Spectral AI by 19.0% in the 4th quarter. Geode Capital Management LLC now owns 216,558 shares of the company’s stock valued at $308,000 after buying an additional 34,597 shares during the period. Bridgeway Capital Management LLC grew its stake in Spectral AI by 14.4% in the third quarter. Bridgeway Capital Management LLC now owns 199,000 shares of the company’s stock worth $454,000 after purchasing an additional 25,000 shares in the last quarter. DNB Asset Management AS increased its holdings in Spectral AI by 85.2% during the 4th quarter. DNB Asset Management AS now owns 136,473 shares of the company’s stock worth $194,000 after purchasing an additional 62,768 shares during the period. Forum Financial Management LP raised its position in Spectral AI by 149.3% during the 3rd quarter. Forum Financial Management LP now owns 60,501 shares of the company’s stock valued at $138,000 after purchasing an additional 36,233 shares in the last quarter. Finally, XTX Topco Ltd purchased a new stake in shares of Spectral AI in the 2nd quarter worth $123,000. Institutional investors own 67.08% of the company’s stock.

About Spectral AI

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.