Analysts Set Hyperfine, Inc. (NASDAQ:HYPR) Price Target at $1.78

Shares of Hyperfine, Inc. (NASDAQ:HYPR) have been assigned an average rating of “Hold” from the six analysts that are covering the stock, MarketBeat reports. One equities research 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 12-month price target among brokers that have covered the stock in the last year is $1.7833.

HYPR has been the subject of a number of recent analyst reports. BTIG Research initiated coverage on shares of Hyperfine in a research note on Wednesday, April 29th. They set a “buy” rating and a $2.00 price target for the company. B. Riley Financial reissued a “buy” rating on shares of Hyperfine in a research report on Wednesday, May 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Hyperfine in a research report on Tuesday, April 21st. Lake Street Capital lifted their price objective on shares of Hyperfine from $2.00 to $2.50 and gave the company a “buy” rating in a report on Thursday, March 19th. Finally, Zacks Research upgraded Hyperfine to a “hold” rating in a report on Thursday, March 19th.

Insiders Place Their Bets

In related news, COO Thomas Teisseyre sold 24,188 shares of the firm’s stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $1.21, for a total transaction of $29,267.48. Following the sale, the chief operating officer owned 354,648 shares of the company’s stock, valued at $429,124.08. This trade represents a 6.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Brett Hale sold 24,188 shares of Hyperfine stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $1.21, for a total value of $29,267.48. Following the completion of the transaction, the chief financial officer owned 275,812 shares in the company, valued at $333,732.52. This trade represents a 8.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 60,470 shares of company stock valued at $78,490 over the last 90 days. 26.33% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Hyperfine

Hedge funds and other institutional investors have recently bought and sold shares of the company. EP Wealth Advisors LLC purchased a new stake in Hyperfine during the fourth quarter valued at approximately $34,000. Sanctuary Advisors LLC lifted its position in Hyperfine by 130.9% during the fourth quarter. Sanctuary Advisors LLC now owns 39,938 shares of the company’s stock valued at $39,000 after acquiring an additional 22,638 shares during the last quarter. Tortoise Investment Management LLC purchased a new stake in Hyperfine during the third quarter valued at approximately $65,000. Kathmere Capital Management LLC purchased a new stake in Hyperfine during the fourth quarter valued at approximately $51,000. Finally, Millennium Management LLC purchased a new stake in Hyperfine during the fourth quarter valued at approximately $55,000. Hedge funds and other institutional investors own 15.03% of the company’s stock.

Hyperfine Price Performance

Shares of HYPR opened at $1.40 on Thursday. The stock has a market cap of $138.98 million, a PE ratio of -3.41 and a beta of 1.38. The company has a debt-to-equity ratio of 0.38, a quick ratio of 4.90 and a current ratio of 5.52. Hyperfine has a fifty-two week low of $0.66 and a fifty-two week high of $2.22. The firm’s 50-day simple moving average is $1.41 and its two-hundred day simple moving average is $1.21.

Hyperfine (NASDAQ:HYPR) last announced its quarterly earnings data on Tuesday, May 12th. The company reported ($0.09) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.09). The business had revenue of $3.90 million for the quarter, compared to analysts’ expectations of $3.54 million. Hyperfine had a negative net margin of 226.88% and a negative return on equity of 98.83%. Analysts anticipate that Hyperfine will post -0.34 earnings per share for the current fiscal 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.