Analysts Set Hyperfine, Inc. (NASDAQ:HYPR) Price Target at $2.03

Hyperfine, Inc. (NASDAQ:HYPR) has been given a consensus rating of “Hold” by the five brokerages that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $2.0333.

HYPR has been the topic of a number of recent analyst reports. BTIG Research restated a “buy” rating and issued a $2.00 price target on shares of Hyperfine in a research report on Thursday. B. Riley Financial reiterated a “buy” rating and set a $1.60 price objective (down from $2.00) on shares of Hyperfine in a research report on Monday, August 10th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Hyperfine in a research note on Friday, July 17th.

Hyperfine Price Performance

Hyperfine stock opened at $0.86 on Tuesday. The stock’s 50 day moving average is $1.11 and its 200 day moving average is $1.23. The company has a debt-to-equity ratio of 0.36, a current ratio of 6.15 and a quick ratio of 5.45. The firm has a market cap of $90.81 million, a P/E ratio of -2.25 and a beta of 1.42. Hyperfine has a one year low of $0.85 and a one year high of $2.22.

Hyperfine (NASDAQ:HYPR) last announced its earnings results on Thursday, August 6th. The company reported ($0.09) EPS for the quarter, meeting the consensus estimate of ($0.09). The business had revenue of $3.90 million for the quarter, compared to analysts’ expectations of $4.13 million. Hyperfine had a negative return on equity of 97.88% and a negative net margin of 210.75%. As a group, research analysts expect that Hyperfine will post -0.34 EPS for the current year.

Institutional Trading of Hyperfine

A number of large investors have recently bought and sold shares of the business. Catalio Capital Management LP lifted its stake in shares of Hyperfine by 92.8% in the 4th quarter. Catalio Capital Management LP now owns 1,320,041 shares of the company’s stock valued at $1,293,000 after purchasing an additional 635,500 shares during the period. Renaissance Technologies LLC grew its stake 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 purchasing an additional 365,490 shares during the period. Bank of New York Mellon Corp bought a new stake in Hyperfine in the second quarter worth approximately $419,000. Walleye Capital LLC bought a new stake in Hyperfine in the fourth quarter worth approximately $212,000. Finally, Vanguard Group Inc. lifted its stake in Hyperfine by 5.7% in the third quarter. Vanguard Group Inc. now owns 3,511,972 shares of the company’s stock valued at $5,092,000 after buying an additional 190,136 shares during the period. 15.03% of the stock is currently owned by institutional investors and hedge funds.

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.