Hyperfine, Inc. (NASDAQ:HYPR) Sees Significant Increase in Short Interest

Hyperfine, Inc. (NASDAQ:HYPR) was the target of a significant increase in short interest during the month of March. As of March 31st, there was short interest totalling 2,380,000 shares, an increase of 33.7% from the March 15th total of 1,780,000 shares. Currently, 4.1% of the company’s stock are sold short. Based on an average trading volume of 1,130,000 shares, the days-to-cover ratio is presently 2.1 days.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Lake Street Capital began coverage on Hyperfine in a report on Monday, March 24th. They issued a “buy” rating and a $1.50 price objective for the company. Wells Fargo & Company increased their price objective on Hyperfine from $1.10 to $1.29 and gave the stock an “equal weight” rating in a report on Tuesday, March 18th. Finally, B. Riley decreased their price target on Hyperfine from $1.50 to $1.20 and set a “buy” rating for the company in a research note on Thursday, March 20th.

Institutional Investors Weigh In On Hyperfine

Several large investors have recently modified their holdings of HYPR. Wealth Enhancement Advisory Services LLC boosted its holdings in Hyperfine by 64.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 82,008 shares of the company’s stock worth $72,000 after purchasing an additional 32,093 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in Hyperfine by 32.9% during the 4th quarter. Renaissance Technologies LLC now owns 212,300 shares of the company’s stock valued at $187,000 after purchasing an additional 52,500 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of Hyperfine during the 4th quarter worth about $25,000. Graypoint LLC bought a new position in shares of Hyperfine during the fourth quarter worth approximately $44,000. Finally, Geode Capital Management LLC grew its stake in shares of Hyperfine by 18.7% in the third quarter. Geode Capital Management LLC now owns 624,520 shares of the company’s stock valued at $675,000 after acquiring an additional 98,335 shares in the last quarter. 15.03% of the stock is currently owned by institutional investors.

Hyperfine Trading Up 4.1 %

HYPR stock traded up $0.03 during trading on Friday, hitting $0.70. 111,834 shares of the stock traded hands, compared to its average volume of 383,238. The stock has a market cap of $54.18 million, a price-to-earnings ratio of -1.22 and a beta of 1.05. Hyperfine has a one year low of $0.58 and a one year high of $1.90. The company has a 50 day simple moving average of $0.87 and a 200 day simple moving average of $0.96.

Hyperfine (NASDAQ:HYPR) last announced its earnings results on Monday, March 17th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.02. The company had revenue of $2.32 million for the quarter, compared to analyst estimates of $2.30 million. Hyperfine had a negative net margin of 309.42% and a negative return on equity of 57.54%. During the same period in the prior year, the business earned ($0.15) earnings per share. As a group, analysts predict that Hyperfine will post -0.57 earnings per share for the current fiscal year.

About Hyperfine

Hyperfine, Inc, a medical device company, provides magnetic resonance imaging (MRI) products in the United States. The company offers Swoop Portable MR imaging system, which offers portable brain neuroimaging; and support and technical assistance services. It serves ICU, comprehensive, and primary stroke accredited facilities through direct sales and distributors.