Spectral AI (NASDAQ:MDAI) Receives “Buy” Rating from HC Wainwright

HC Wainwright restated their buy rating on shares of Spectral AI (NASDAQ:MDAI) in a report released on Tuesday,Benzinga reports. The firm currently has a $3.50 target price on the stock.

Spectral AI Stock Performance

NASDAQ:MDAI opened at $1.66 on Tuesday. The stock has a 50-day simple moving average of $1.85 and a two-hundred day simple moving average of $1.67. The firm has a market capitalization of $30.86 million, a PE ratio of -2.55 and a beta of 0.43. Spectral AI has a 52-week low of $0.82 and a 52-week high of $3.25.

Institutional Investors Weigh In On Spectral AI

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Virtu Financial LLC bought a new position in shares of Spectral AI in the fourth quarter worth approximately $38,000. Northern Trust Corp purchased a new position in shares of Spectral AI during the 4th quarter valued at $44,000. Millington Financial Advisors LLC purchased a new position in shares of Spectral AI during the 4th quarter valued at $85,000. Jane Street Group LLC bought a new position in Spectral AI in the 4th quarter worth $92,000. Finally, Renaissance Technologies LLC purchased a new stake in Spectral AI in the 4th quarter worth $272,000. 67.08% of the stock is owned by hedge funds and other institutional investors.

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.