Spectral AI (NASDAQ:MDAI) Posts Earnings Results, Misses Estimates By $0.02 EPS

Spectral AI (NASDAQ:MDAI) released its quarterly earnings results on Monday. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.02), Yahoo Finance reports. The company had revenue of $7.48 million for the quarter, compared to analyst estimates of $6.00 million. Spectral AI updated its FY 2024 guidance to EPS.

Spectral AI Price Performance

NASDAQ:MDAI traded up $0.08 during mid-day trading on Wednesday, reaching $1.58. The company’s stock had a trading volume of 39,336 shares, compared to its average volume of 1,012,460. The firm’s fifty day moving average price is $1.71 and its two-hundred day moving average price is $1.90. Spectral AI has a 12-month low of $1.32 and a 12-month high of $19.50.

Wall Street Analyst Weigh In

MDAI has been the topic of a number of research reports. Northland Securities initiated coverage on shares of Spectral AI in a research note on Monday. They set an “outperform” rating and a $6.00 target price on the stock. Northland Capmk raised shares of Spectral AI to a “strong-buy” rating in a report on Monday. Finally, HC Wainwright reiterated a “buy” rating and set a $3.50 price target on shares of Spectral AI in a report on Tuesday.

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.