Hyperfine, Inc. (NASDAQ:HYPR) Receives Average Recommendation of “Hold” from Brokerages

Shares of Hyperfine, Inc. (NASDAQ:HYPR) have earned an average recommendation of “Hold” from the six ratings firms that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have given a buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $1.7833.

A number of brokerages have recently issued reports on HYPR. Weiss Ratings reissued a “sell (d-)” rating on shares of Hyperfine in a research note on Friday, July 17th. BTIG Research started coverage on Hyperfine in a research note on Wednesday, April 29th. They issued a “buy” rating and a $2.00 price target on the stock. Finally, B. Riley Financial reaffirmed a “buy” rating on shares of Hyperfine in a report on Wednesday, May 13th.

Institutional Investors Weigh In On Hyperfine

Several institutional investors have recently made changes to their positions in HYPR. Vanguard Group Inc. increased its holdings in shares of Hyperfine by 5.7% in the 3rd quarter. Vanguard Group Inc. now owns 3,511,972 shares of the company’s stock valued at $5,092,000 after purchasing an additional 190,136 shares in the last quarter. Catalio Capital Management LP boosted its holdings in Hyperfine by 92.8% during the fourth quarter. Catalio Capital Management LP now owns 1,320,041 shares of the company’s stock worth $1,293,000 after buying an additional 635,500 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Hyperfine by 21.4% during the fourth quarter. Geode Capital Management LLC now owns 815,986 shares of the company’s stock worth $799,000 after buying an additional 143,975 shares in the last quarter. Renaissance Technologies LLC grew its position in Hyperfine by 100.2% during the first quarter. Renaissance Technologies LLC now owns 730,233 shares of the company’s stock worth $789,000 after buying an additional 365,490 shares during the period. Finally, State Street Corp grew its position in Hyperfine by 6.1% during the fourth quarter. State Street Corp now owns 265,195 shares of the company’s stock worth $260,000 after buying an additional 15,200 shares during the period. 15.03% of the stock is currently owned by hedge funds and other institutional investors.

Hyperfine Trading Down 2.5%

Shares of Hyperfine stock opened at $0.95 on Friday. The firm has a market cap of $94.68 million, a price-to-earnings ratio of -2.33 and a beta of 1.40. Hyperfine has a 52-week low of $0.85 and a 52-week high of $2.22. The company’s 50-day simple moving average is $1.35 and its 200-day simple moving average is $1.26. The company has a quick ratio of 4.90, a current ratio of 5.52 and a debt-to-equity ratio of 0.38.

Hyperfine (NASDAQ:HYPR) last announced its quarterly earnings data on Tuesday, May 12th. The company reported ($0.09) EPS for the quarter, meeting analysts’ consensus estimates of ($0.09). Hyperfine had a negative net margin of 226.88% and a negative return on equity of 98.83%. The firm had revenue of $3.90 million during the quarter, compared to the consensus estimate of $3.54 million. As a group, equities research analysts anticipate that Hyperfine will post -0.34 earnings per share for the current year.

About Hyperfine

Hyperfine, Inc (NASDAQ: HYPR) is a medical technology company focused on expanding access to advanced neuroimaging through its portable magnetic resonance imaging (MRI) system. The company’s flagship product, Swoop®, is designed to enable bedside MRI scanning in a wide range of clinical environments, including emergency departments, intensive care units and outpatient clinics. By leveraging a compact, high-performance permanent magnet and a custom-designed gradient system, Hyperfine aims to reduce the logistical and financial barriers associated with traditional, large-scale MRI installations.

The Swoop system features a lightweight, wheeled design that can be maneuvered directly to a patient’s bedside, allowing clinicians to conduct diagnostic imaging without the need to transport critically ill or immobile patients.