Hyperfine (NASDAQ:HYPR) Now Covered by Analysts at Lucid Cap Mkts

Lucid Cap Mkts started coverage on shares of Hyperfine (NASDAQ:HYPR) in a report published on Tuesday morning,Zacks reports. The brokerage issued a strong-buy rating on the stock.

A number of other brokerages have also commented on HYPR. Weiss Ratings reissued a “sell (d-)” rating on shares of Hyperfine in a research report on Thursday, October 15th. BTIG Research reaffirmed a “buy” rating and set a $2.00 price objective on shares of Hyperfine in a research report on Tuesday, September 22nd. Loop Capital set a $2.00 price objective on shares of Hyperfine in a report on Tuesday. Finally, B. Riley Financial restated a “buy” rating and set a $1.60 target price (down from $2.00) on shares of Hyperfine in a research note on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $2.02.

Hyperfine Price Performance

HYPR opened at $0.78 on Tuesday. Hyperfine has a 12 month low of $0.70 and a 12 month high of $1.94. The company has a fifty day simple moving average of $0.82 and a 200 day simple moving average of $1.13. The stock has a market cap of $83.21 million, a P/E ratio of -2.06 and a beta of 1.45. The company has a quick ratio of 5.45, a current ratio of 6.15 and a debt-to-equity ratio of 0.36.

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

Hedge Funds Weigh In On Hyperfine

A number of hedge funds have recently added to or reduced their stakes in the stock. Walleye Capital LLC increased its position in shares of Hyperfine by 3.4% in the first quarter. Walleye Capital LLC now owns 223,988 shares of the company’s stock worth $242,000 after purchasing an additional 7,330 shares during the period. PFS Partners LLC raised its position in shares of Hyperfine by 150.0% during the third quarter. PFS Partners LLC now owns 50,000 shares of the company’s stock worth $40,000 after acquiring an additional 30,000 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Hyperfine in the second quarter worth approximately $419,000. Finally, Renaissance Technologies LLC boosted its holdings in Hyperfine by 100.2% in the first quarter. Renaissance Technologies LLC now owns 730,233 shares of the company’s stock valued at $789,000 after acquiring an additional 365,490 shares during the last quarter. Institutional investors own 15.03% of the company’s stock.

Hyperfine Company Profile

Hyperfine, Inc (NASDAQ: HYPR) is a medical technology company focused on making magnetic resonance imaging more accessible and convenient. The company develops portable, low-field MRI technology designed to bring brain imaging directly to patients in locations such as intensive care units, emergency departments, operating rooms and other point-of-care settings.

Hyperfine’s primary product is the Swoop Portable MR Imaging System, a compact MRI platform that can be moved to a patient’s bedside.