HC Wainwright Reiterates Buy Rating for Spectral AI (NASDAQ:MDAI)

Spectral AI (NASDAQ:MDAI)‘s stock had its “buy” rating reaffirmed by HC Wainwright in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $3.50 target price on the stock. HC Wainwright’s price objective would indicate a potential upside of 98.86% from the stock’s current price.

Spectral AI Stock Up 13.5 %

MDAI opened at $1.76 on Tuesday. The company has a 50-day simple moving average of $1.89 and a 200 day simple moving average of $1.67. The stock has a market capitalization of $32.71 million, a price-to-earnings ratio of -2.71 and a beta of 0.43. Spectral AI has a twelve month low of $0.82 and a twelve month high of $3.25.

Institutional Investors Weigh In On Spectral AI

Large investors have recently modified their holdings of the business. Virtu Financial LLC bought a new stake in shares of Spectral AI during the 4th quarter worth $38,000. Northern Trust Corp acquired a new position in Spectral AI during the fourth quarter worth about $44,000. Millington Financial Advisors LLC bought a new position in shares of Spectral AI in the fourth quarter worth about $85,000. Jane Street Group LLC bought a new position in shares of Spectral AI in the fourth quarter worth about $92,000. Finally, Renaissance Technologies LLC acquired a new stake in shares of Spectral AI in the 4th quarter valued at approximately $272,000. Institutional investors and hedge funds 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.