Hyperfine (NASDAQ:HYPR) Given Buy Rating at BTIG Research

Key Points

• BTIG Research reaffirmed a “buy” rating on Hyperfine and maintained a $2.00 price target, implying 153.13% upside from the stock’s $0.79 price. However, analyst sentiment overall remains mixed, with a consensus “hold” rating and an average target of $2.03.
• Hyperfine reported quarterly revenue of $3.90 million, below the $4.13 million analyst estimate, while its adjusted loss of $0.09 per share matched expectations. The company continues to report significant losses, including a negative net margin of 210.75%.
• Institutional investors increased their positions in Hyperfine, with hedge funds and other institutions collectively owning 15.03% of the company. Hyperfine develops the portable Swoop bedside MRI system for hospitals and other clinical settings.

Hyperfine (NASDAQ:HYPR - Get Free Report)'s stock had its "buy" rating reaffirmed by stock analysts at BTIG Research in a research report issued to clients and investors on Monday, MarketBeat Ratings reports. They presently have a $2.00 target price on the stock. BTIG Research's price objective indicates a potential upside of 153.13% from the stock's current price.

A number of other equities research analysts have also weighed in on the company. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Hyperfine in a research report on Friday, July 17th. B. Riley Financial restated a "buy" rating and issued a $1.60 price objective (down from $2.00) on shares of Hyperfine in a report on Monday, August 10th. Three investment 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's stock. Based on data from MarketBeat, Hyperfine has a consensus rating of "Hold" and an average price target of $2.03.

Hyperfine Stock Performance

Shares of HYPR opened at $0.79 on Monday. The stock has a market capitalization of $83.79 million, a PE ratio of -2.08 and a beta of 1.41. The company's fifty day moving average is $0.93 and its 200 day moving average is $1.20. The company has a debt-to-equity ratio of 0.36, a quick ratio of 5.45 and a current ratio of 6.15. Hyperfine has a fifty-two week low of $0.78 and a fifty-two week high of $2.22.

Hyperfine (NASDAQ:HYPR - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.09). Hyperfine had a negative net margin of 210.75% and a negative return on equity of 97.88%. The firm had revenue of $3.90 million during the quarter, compared to analyst estimates of $4.13 million. Sell-side analysts expect that Hyperfine will post -0.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Hyperfine

Several hedge funds and other institutional investors have recently modified their holdings of HYPR. Catalio Capital Management LP increased its stake in Hyperfine by 92.8% during 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 in the last quarter. Tortoise Investment Management LLC lifted its stake in shares of Hyperfine by 60.0% during the fourth quarter. Tortoise Investment Management LLC now owns 72,000 shares of the company's stock worth $71,000 after buying an additional 27,000 shares during the period. XTX Topco Ltd grew its holdings in shares of Hyperfine by 47.9% during the fourth quarter. XTX Topco Ltd now owns 80,735 shares of the company's stock valued at $79,000 after buying an additional 26,165 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Hyperfine by 5.7% during 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 last quarter. Finally, Geode Capital Management LLC increased its position in shares of Hyperfine by 21.4% in the 4th quarter. Geode Capital Management LLC now owns 815,986 shares of the company's stock valued at $799,000 after acquiring an additional 143,975 shares during the period. 15.03% of the stock is owned by hedge funds and other institutional investors.

Hyperfine Company Profile

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.

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