Spectral AI (NASDAQ:MDAI) Stock Price Down 3.1% – Here’s What Happened
by Doug Wharley · The Cerbat GemSpectral AI, Inc. (NASDAQ:MDAI – Get Free Report) dropped 3.1% during mid-day trading on Friday . The stock traded as low as $1.52 and last traded at $1.54. Approximately 260,914 shares were traded during trading, a decline of 3% from the average daily volume of 267,972 shares. The stock had previously closed at $1.59.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on MDAI. BTIG Research dropped their price target on Spectral AI from $3.50 to $3.00 and set a “buy” rating on the stock in a research note on Wednesday, November 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Spectral AI in a research note on Monday, December 22nd. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $3.25.
Check Out Our Latest Research Report on MDAI
Spectral AI Trading Down 3.1%
The company has a market cap of $47.26 million, a P/E ratio of -2.08 and a beta of 0.94. The company has a 50 day moving average price of $1.59 and a 200-day moving average price of $2.06.
Spectral AI (NASDAQ:MDAI – Get Free Report) last released its quarterly earnings data on Wednesday, November 12th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.05). The company had revenue of $3.79 million for the quarter, compared to analyst estimates of $5.06 million. Equities analysts expect that Spectral AI, Inc. will post -0.48 earnings per share for the current year.
Institutional Investors Weigh In On Spectral AI
Institutional investors have recently added to or reduced their stakes in the business. Bridgeway Capital Management LLC lifted its holdings in Spectral AI by 14.4% in the third quarter. Bridgeway Capital Management LLC now owns 199,000 shares of the company’s stock valued at $454,000 after buying an additional 25,000 shares during the period. Geode Capital Management LLC raised its position in shares of Spectral AI by 21.8% in the 2nd quarter. Geode Capital Management LLC now owns 152,958 shares of the company’s stock worth $379,000 after acquiring an additional 27,365 shares in the last quarter. DNB Asset Management AS lifted its stake in shares of Spectral AI by 71.3% in the 3rd quarter. DNB Asset Management AS now owns 73,705 shares of the company’s stock valued at $168,000 after purchasing an additional 30,681 shares during the period. Forum Financial Management LP lifted its stake in shares of Spectral AI by 149.3% in 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 during the period. Finally, XTX Topco Ltd bought a new stake in shares of Spectral AI during the 2nd quarter valued at about $123,000. 67.08% of the stock is owned by institutional investors.
Spectral AI Company Profile
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.