Spectral AI (NASDAQ:MDAI) Given Buy Rating at HC Wainwright

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

Spectral AI Price Performance

Shares of MDAI opened at $1.20 on Wednesday. The firm has a market capitalization of $22.31 million, a P/E ratio of -1.85 and a beta of 0.43. Spectral AI has a one year low of $0.82 and a one year high of $3.25. The business has a fifty day moving average of $1.74 and a 200 day moving average of $1.68.

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

Institutional Investors Weigh In On Spectral AI

A number of hedge funds have recently modified their holdings of the business. Millington Financial Advisors LLC bought a new stake in Spectral AI during the fourth quarter valued at about $85,000. Avantax Planning Partners Inc. lifted its position in shares of Spectral AI by 44.7% during the 4th quarter. Avantax Planning Partners Inc. now owns 231,336 shares of the company’s stock valued at $655,000 after buying an additional 71,484 shares in the last quarter. Jane Street Group LLC purchased a new position in shares of Spectral AI during the 4th quarter valued at about $92,000. Northern Trust Corp bought a new position in shares of Spectral AI during the 4th quarter valued at approximately $44,000. Finally, Renaissance Technologies LLC bought a new stake in Spectral AI during the 4th quarter worth approximately $272,000. 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.