Northland Capmk Forecasts Higher Earnings for Spectral AI

Spectral AI, Inc. (NASDAQ:MDAI) – Northland Capmk boosted their FY2024 earnings estimates for shares of Spectral AI in a research note issued to investors on Tuesday, December 3rd. Northland Capmk analyst C. Byrnes now forecasts that the company will post earnings of ($0.48) per share for the year, up from their prior forecast of ($0.67). Northland Capmk currently has a “Strong-Buy” rating on the stock. The consensus estimate for Spectral AI’s current full-year earnings is ($0.54) per share. Northland Capmk also issued estimates for Spectral AI’s Q4 2024 earnings at ($0.10) EPS.

Other equities research analysts have also issued research reports about the stock. HC Wainwright restated a “buy” rating and issued a $3.50 target price on shares of Spectral AI in a report on Tuesday, August 13th. Northland Securities initiated coverage on Spectral AI in a research note on Monday, August 12th. They issued an “outperform” rating and a $6.00 target price on the stock.

Spectral AI Stock Performance

Shares of Spectral AI stock opened at $2.09 on Thursday. The stock has a market cap of $38.85 million, a price-to-earnings ratio of -3.22 and a beta of 0.64. The stock has a 50 day moving average price of $1.37 and a 200-day moving average price of $1.51. Spectral AI has a one year low of $0.82 and a one year high of $3.72.

Institutional Investors Weigh In On Spectral AI

A hedge fund recently bought a new stake in Spectral AI stock. Forum Financial Management LP bought a new stake in shares of Spectral AI, Inc. (NASDAQ:MDAI) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 29,098 shares of the company’s stock, valued at approximately $51,000. Forum Financial Management LP owned about 0.17% of Spectral AI as of its most recent SEC filing. 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.