BTIG Research Reiterates Buy Rating for Hyperfine (NASDAQ:HYPR)

Key Points

• BTIG Research reiterated its Buy rating on Hyperfine and maintained a $2.00 price target, implying roughly 156% upside from the prior close.
• Analyst sentiment is mixed: three analysts rate the stock Buy, one Hold and one Sell, resulting in a consensus Hold rating and a $2.03 average price target.
• Hyperfine reported a quarterly loss of $0.09 per share in line with estimates, while revenue of $3.90 million fell short of the $4.13 million consensus forecast; the stock opened at $0.78 and has traded between $0.75 and $2.22 over the past year.

Hyperfine (NASDAQ:HYPR - Get Free Report)'s stock had its "buy" rating restated by investment analysts at BTIG Research in a report released on Tuesday, Benzinga reports. They currently have a $2.00 target price on the stock. BTIG Research's price objective indicates a potential upside of 156.05% from the stock's previous close.

Several other research firms have also weighed in on HYPR. B. Riley Financial reissued a "buy" rating and issued a $1.60 target price (down from $2.00) on shares of Hyperfine in a report on Monday, August 10th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Hyperfine in a research report on Friday, July 17th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $2.03.

Hyperfine Price Performance

HYPR stock opened at $0.78 on Tuesday. The firm has a 50 day moving average of $0.89 and a 200-day moving average of $1.19. The company has a market cap of $82.84 million, a price-to-earnings ratio of -2.06 and a beta of 1.41. The company has a current ratio of 6.15, a quick ratio of 5.45 and a debt-to-equity ratio of 0.36. Hyperfine has a 12-month low of $0.75 and a 12-month high of $2.22.

Hyperfine (NASDAQ:HYPR - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. 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 $4.13 million. Hyperfine had a negative return on equity of 97.88% and a negative net margin of 210.75%. As a group, equities analysts expect that Hyperfine will post -0.34 EPS for the current fiscal year.

Institutional Investors Weigh In On Hyperfine

Large investors have recently bought and sold shares of the stock. Walleye Capital LLC raised its holdings 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 acquiring an additional 7,330 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Hyperfine during the second quarter valued at $419,000. Renaissance Technologies LLC increased its position in Hyperfine by 100.2% during the 1st quarter. Renaissance Technologies LLC now owns 730,233 shares of the company's stock worth $789,000 after purchasing an additional 365,490 shares in the last quarter. Finally, Catalio Capital Management LP increased its position in Hyperfine by 92.8% during the 4th quarter. Catalio Capital Management LP now owns 1,320,041 shares of the company's stock worth $1,293,000 after purchasing an additional 635,500 shares in the last quarter. Institutional investors and hedge funds own 15.03% of the company's stock.

Hyperfine Company Profile

Hyperfine, Inc is a medical technology company that develops portable magnetic resonance imaging (MRI) systems for use at the point of care. Its flagship product, the Swoop Portable MR Imaging System, is designed to bring brain imaging directly to patients in settings such as intensive care units, emergency departments, hospitals and other clinical environments.

The Swoop system is intended to support rapid assessment of neurological conditions, including stroke, brain injury and other disorders.

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