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

HC Wainwright reaffirmed their buy rating on shares of Spectral AI (NASDAQ:MDAI) in a research report released on Wednesday morning,Benzinga reports. They currently have a $3.50 target price on the stock.

Spectral AI Stock Up 7.5 %

MDAI opened at $1.29 on Wednesday. The business’s fifty day simple moving average is $1.72 and its 200 day simple moving average is $1.68. Spectral AI has a 52 week low of $0.82 and a 52 week high of $3.25. The firm has a market cap of $29.99 million, a P/E ratio of -1.98 and a beta of 0.62.

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

Institutional Inflows and Outflows

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

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.