B. Riley Financial Reaffirms Buy Rating for Hyperfine (NASDAQ:HYPR)

Key Points

• B. Riley Financial reaffirmed a “Buy” rating on Hyperfine but lowered its price target to $1.60 from $2.00, implying roughly 67% upside from the stock’s $0.96 price.
• Analyst sentiment remains mixed: three analysts rate Hyperfine a Buy, two rate it Hold, and one rates it Sell, producing a consensus “Hold” rating and an average price target of $1.74.
• Hyperfine reported quarterly revenue of $3.90 million, below the $4.13 million consensus estimate, while matching expectations with an adjusted loss of $0.09 per share; the company continues developing its portable bedside Swoop MRI system.

Hyperfine (NASDAQ:HYPR - Get Free Report)'s stock had its "buy" rating restated by B. Riley Financial in a research note issued on Monday,Benzinga reports. They presently have a $1.60 price target on the stock, down from their prior price target of $2.00. B. Riley Financial's price objective would indicate a potential upside of 67.36% from the company's current price.

Several other brokerages have also commented on HYPR. BTIG Research assumed coverage on Hyperfine in a research note on Wednesday, April 29th. They issued a "buy" rating and a $2.00 price target on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of Hyperfine in a report on Friday, July 17th. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $1.74.

Hyperfine Trading Up 0.1%

HYPR stock traded up $0.00 during trading on Monday, reaching $0.96. 330,056 shares of the stock were exchanged, compared to its average volume of 724,735. The business has a 50 day moving average price of $1.23 and a 200-day moving average price of $1.25. Hyperfine has a 1 year low of $0.85 and a 1 year high of $2.22. The company has a current ratio of 5.52, a quick ratio of 4.90 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $94.90 million, a price-to-earnings ratio of -2.52 and a beta of 1.43.

Hyperfine (NASDAQ:HYPR - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.09). Hyperfine had a negative net margin of 210.75% and a negative return on equity of 99.81%. The business had revenue of $3.90 million during the quarter, compared to the consensus estimate of $4.13 million. On average, research analysts predict that Hyperfine will post -0.34 earnings per share for the current year.

Hedge Funds Weigh In On Hyperfine

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. EP Wealth Advisors LLC purchased a new stake in shares of Hyperfine during the fourth quarter worth $34,000. Sanctuary Advisors LLC boosted its holdings in Hyperfine by 130.9% in the fourth quarter. Sanctuary Advisors LLC now owns 39,938 shares of the company's stock valued at $39,000 after purchasing an additional 22,638 shares during the period. Millennium Management LLC acquired a new position in Hyperfine during the 4th quarter worth $55,000. Cerity Partners LLC purchased a new stake in Hyperfine during the 4th quarter worth about $59,000. Finally, Tortoise Investment Management LLC increased its holdings in Hyperfine by 60.0% during the 4th quarter. Tortoise Investment Management LLC now owns 72,000 shares of the company's stock worth $71,000 after purchasing an additional 27,000 shares during the period. 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 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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