Forum Financial Management LP Makes New Investment in Spectral AI, Inc. (NASDAQ:MDAI)

Forum Financial Management LP bought a new position in shares of Spectral AI, Inc. (NASDAQ:MDAI) during the 2nd quarter, Holdings Channel reports. The institutional investor bought 29,098 shares of the company’s stock, valued at approximately $51,000.

Several other hedge funds have also recently bought and sold shares of MDAI. Highlander Partners L.P. raised its holdings in Spectral AI by 18.6% during the 4th quarter. Highlander Partners L.P. now owns 900,000 shares of the company’s stock worth $2,214,000 after buying an additional 141,416 shares during the period. Cantor Fitzgerald L. P. bought a new position in shares of Spectral AI during the 4th quarter worth approximately $38,000. Murchinson Ltd. bought a new position in shares of Spectral AI during the 1st quarter worth approximately $85,000. Finally, Virtu Financial LLC bought a new position in shares of Spectral AI during the 1st quarter worth approximately $38,000. 67.08% of the stock is currently owned by institutional investors and hedge funds.

Spectral AI Price Performance

NASDAQ:MDAI opened at $1.43 on Friday. Spectral AI, Inc. has a 1-year low of $1.32 and a 1-year high of $19.50. The firm has a fifty day simple moving average of $1.68 and a 200 day simple moving average of $1.84.

Spectral AI (NASDAQ:MDAI) last released its earnings results on Monday, August 12th. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.02). The company had revenue of $7.48 million for the quarter, compared to analyst estimates of $6.00 million. As a group, equities research analysts predict that Spectral AI, Inc. will post -0.64 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on MDAI shares. Northland Securities started coverage on shares of Spectral AI in a research note on Monday, August 12th. They set an “outperform” rating and a $6.00 price target for the company. HC Wainwright reaffirmed a “buy” rating and set a $3.50 price target on shares of Spectral AI in a research note on Tuesday, August 13th. Finally, Northland Capmk raised shares of Spectral AI to a “strong-buy” rating in a research note on Monday, August 12th.

Spectral AI 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.