Hyperfine (NASDAQ:HYPR) Cut to "Sell" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Hyperfine to “Sell” from “Hold,” although the broader analyst consensus remains “Moderate Buy” with a $2.02 price target.
• Hyperfine shares opened at $0.72, near their 52-week low of $0.70, with a market capitalization of approximately $76.4 million and negative profitability metrics.
• The company 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.

Hyperfine (NASDAQ:HYPR - Get Free Report) was downgraded by Wall Street Zen from a "hold" rating to a "sell" rating in a report issued on Saturday, Wall Street Zen reports.

HYPR has been the subject of a number of other research reports. Weiss Ratings reissued a "sell (d-)" rating on shares of Hyperfine in a research report on Thursday, October 15th. Lucid Cap Mkts began coverage on Hyperfine in a research report on Tuesday. They issued a "strong-buy" rating for the company. Loop Capital set a $2.00 price target on shares of Hyperfine in a report on Tuesday. B. Riley Financial restated a "buy" rating and set a $1.60 price objective (down from $2.00) on shares of Hyperfine in a report on Monday, August 10th. Finally, BTIG Research reaffirmed a "buy" rating and issued a $2.00 target price on shares of Hyperfine in a research report on Tuesday, September 22nd. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $2.02.

Hyperfine Stock Performance

Hyperfine stock opened at $0.72 on Friday. Hyperfine has a 52 week low of $0.70 and a 52 week high of $1.94. The stock has a fifty day moving average price of $0.81 and a 200 day moving average price of $1.12. The company has a current ratio of 6.15, a quick ratio of 5.45 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $76.36 million, a P/E ratio of -1.89 and a beta of 1.45.

Hyperfine (NASDAQ:HYPR - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.09) earnings per share for the quarter, hitting the consensus estimate of ($0.09). The business had revenue of $3.90 million for the quarter, compared to analyst estimates of $4.13 million. Hyperfine had a negative net margin of 210.75% and a negative return on equity of 97.88%. Equities research analysts anticipate that Hyperfine will post -0.34 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. PFS Partners LLC grew 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 bought a new position in shares of Hyperfine in the second quarter worth $419,000. Renaissance Technologies LLC increased its holdings in shares of Hyperfine by 100.2% during the first quarter. Renaissance Technologies LLC now owns 730,233 shares of the company's stock valued at $789,000 after purchasing an additional 365,490 shares during the period. Finally, Walleye Capital LLC increased its stake in Hyperfine by 3.4% during the 1st quarter. Walleye Capital LLC now owns 223,988 shares of the company's stock valued at $242,000 after buying an additional 7,330 shares during the period. 15.03% of the stock is currently owned by institutional investors.

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.

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