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

Key Points

• Wall Street Zen downgraded Hyperfine from “hold” to “sell.” Analyst opinion remains mixed overall: MarketBeat reports a “Moderate Buy” average rating and a $2.02 average price target.
• Hyperfine shares opened at $0.72, near their 1-year low of $0.67, and were reported up 5% in the session.
• In its latest reported quarter, Hyperfine’s loss of $0.09 per share matched estimates, while revenue of $3.90 million fell short of the $4.13 million consensus.

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

HYPR has been the subject of a number of other reports. B. Riley Financial restated a "buy" rating and issued a $1.60 price target (down from $2.00) on shares of Hyperfine in a research report on Monday, August 10th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Hyperfine in a report on Thursday, October 15th. Lucid Cap Mkts began coverage on Hyperfine in a research report on Tuesday, October 27th. They set a "strong-buy" rating on the stock. BTIG Research reissued a "buy" rating and set a $2.00 price objective on shares of Hyperfine in a research note on Tuesday, September 22nd. Finally, Loop Capital set a $2.00 price objective on Hyperfine in a research note on Tuesday, October 27th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $2.02.

Hyperfine Trading Up 5.0%

HYPR stock opened at $0.72 on Friday. The company has a market capitalization of $76.30 million, a price-to-earnings ratio of -1.89 and a beta of 1.49. Hyperfine has a 1-year low of $0.67 and a 1-year high of $1.94. The business has a 50 day simple moving average of $0.80 and a two-hundred day simple moving average of $1.11. The company has a debt-to-equity ratio of 0.36, a current ratio of 6.15 and a quick ratio of 5.45.

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

Hedge Funds Weigh In On Hyperfine

A number of institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp purchased a new stake in shares of Hyperfine in the 2nd quarter valued at approximately $419,000. Walleye Capital LLC increased its holdings in shares of Hyperfine by 3.4% during the 1st quarter. Walleye Capital LLC now owns 223,988 shares of the company's stock worth $242,000 after buying an additional 7,330 shares during the last quarter. PFS Partners LLC increased its holdings in shares of Hyperfine by 150.0% during the 3rd quarter. PFS Partners LLC now owns 50,000 shares of the company's stock worth $40,000 after buying an additional 30,000 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Hyperfine by 7,695.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 487,994 shares of the company's stock worth $394,000 after buying an additional 481,734 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of 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 buying an additional 365,490 shares during the last quarter. 15.03% of the stock is owned by hedge funds and other institutional investors.

About Hyperfine

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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