Lucid Cap Mkts Begins Coverage on Hyperfine (NASDAQ:HYPR)

Key Points

• Lucid Capital Markets initiated coverage of Hyperfine with a “strong-buy” rating. The stock has a consensus “Moderate Buy” rating and an average analyst price target of $2.02.
• Hyperfine shares opened at $0.78, near their 52-week low of $0.70, and are down from a 52-week high of $1.94. The company reported quarterly revenue of $3.90 million and a loss of $0.09 per share, while analysts expect a full-year loss of $0.34 per share.
• Institutional investors own approximately 15.03% of Hyperfine, with firms including Renaissance Technologies and PFS Partners increasing their positions. The medical technology company develops portable, low-field MRI systems, including its bedside Swoop Portable MR Imaging System.

Stock analysts at Lucid Cap Mkts started coverage on shares of Hyperfine (NASDAQ:HYPR - Get Free Report) in a report issued on Tuesday, Zacks reports. The firm set a "strong-buy" rating on the stock.

Several other brokerages have also recently issued reports on HYPR. Weiss Ratings restated a "sell (d-)" rating on shares of Hyperfine in a research note on Thursday, October 15th. BTIG Research reaffirmed a "buy" rating and issued a $2.00 price objective on shares of Hyperfine in a report on Tuesday, September 22nd. B. Riley Financial reiterated 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. Finally, Loop Capital set a $2.00 target price on shares of Hyperfine in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $2.02.

Hyperfine Stock Up 4.7%

Shares of Hyperfine stock opened at $0.78 on Tuesday. The business has a 50-day moving average price of $0.82 and a 200 day moving average price of $1.13. Hyperfine has a fifty-two week low of $0.70 and a fifty-two week high of $1.94. The firm 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 - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported ($0.09) EPS for the quarter, hitting analysts' consensus estimates of ($0.09). The company had revenue of $3.90 million for the quarter, compared to the consensus estimate of $4.13 million. Hyperfine had a negative return on equity of 97.88% and a negative net margin of 210.75%. On average, sell-side analysts forecast that Hyperfine will post -0.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Hyperfine

Several institutional investors and hedge funds have recently bought and sold shares of the business. PFS Partners LLC lifted its position in shares of Hyperfine by 150.0% in the third quarter. PFS Partners LLC now owns 50,000 shares of the company's stock worth $40,000 after purchasing an additional 30,000 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Hyperfine during the second quarter worth approximately $419,000. Renaissance Technologies LLC grew its position in 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 in the last quarter. Finally, Walleye Capital LLC grew its position in Hyperfine by 3.4% during the first quarter. Walleye Capital LLC now owns 223,988 shares of the company's stock valued at $242,000 after purchasing an additional 7,330 shares in the last quarter. Hedge funds and other 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.

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