Spectral AI (NASDAQ:MDAI) Trading Down 1.4% – Time to Sell?

Spectral AI, Inc. (NASDAQ:MDAI)’s stock price fell 1.4% during trading on Wednesday . The stock traded as low as $1.80 and last traded at $2.17. 3,591,689 shares were traded during trading, an increase of 215% from the average session volume of 1,141,885 shares. The stock had previously closed at $2.20.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Northland Securities assumed coverage on Spectral AI in a research report on Monday, August 12th. They set an “outperform” rating and a $6.00 target price for the company. Northland Capmk upgraded Spectral AI to a “strong-buy” rating in a report on Monday, August 12th. Finally, HC Wainwright reiterated a “buy” rating and issued a $3.50 target price on shares of Spectral AI in a research note on Tuesday, August 13th.

Spectral AI Stock Up 3.0 %

The stock has a market cap of $38.85 million, a P/E ratio of -3.22 and a beta of 0.64. The company’s 50 day moving average price is $1.37 and its two-hundred day moving average price is $1.51.

Institutional Investors Weigh In On Spectral AI

A hedge fund recently bought a new stake in Spectral AI stock. Virtu Financial LLC purchased a new stake in shares of Spectral AI, Inc. (NASDAQ:MDAI) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 17,830 shares of the company’s stock, valued at approximately $38,000. Virtu Financial LLC owned 0.10% of Spectral AI at the end of the most recent quarter. 67.08% of the stock is owned by hedge funds and other institutional investors.

About Spectral AI

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.