Hyperfine, Inc. (NASDAQ:HYPR) Receives Average Recommendation of "Hold" from Analysts

Key Points

• Analysts are cautious on Hyperfine: The stock has a consensus rating of “Hold” from six covering analysts, with three buys, two holds, and one sell. The average 12-month price target is about $1.59.
• Insiders recently sold shares: CFO Brett Hale and COO Thomas Teisseyre each sold 24,188 shares at an average price of $1.21, reducing their ownership stakes. Insiders still own about 26.33% of the company.
• Latest results showed a small earnings beat: Hyperfine reported quarterly EPS of -$0.06, beating estimates of -$0.08, while revenue came in roughly in line with expectations at $5.29 million. The company’s stock was trading around $1.69, near its 50-day and 200-day moving averages.

Shares of Hyperfine, Inc. (NASDAQ:HYPR - Get Free Report) have been assigned a consensus recommendation of "Hold" from the six ratings firms that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $1.5875.

Several brokerages have issued reports on HYPR. Lake Street Capital boosted their target price on Hyperfine from $2.00 to $2.50 and gave the company a "buy" rating in a research note on Thursday, March 19th. BTIG Research assumed coverage on Hyperfine in a report on Wednesday, April 29th. They issued a "buy" rating and a $2.00 price objective for the company. Zacks Research upgraded Hyperfine to a "hold" rating in a research note on Thursday, March 19th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Hyperfine in a report on Tuesday, April 21st.

Insider Activity at Hyperfine

In other news, CFO Brett Hale sold 24,188 shares of the business's stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $1.21, for a total value of $29,267.48. Following the sale, the chief financial officer owned 275,812 shares of the company's stock, valued at $333,732.52. The trade was a 8.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Thomas Teisseyre sold 24,188 shares of the company's stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $1.21, for a total transaction of $29,267.48. Following the sale, the chief operating officer owned 354,648 shares in the company, valued at $429,124.08. The trade was a 6.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 26.33% of the company's stock.

Institutional Investors Weigh In On Hyperfine

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of Hyperfine by 5.7% in the third quarter. Vanguard Group Inc. now owns 3,511,972 shares of the company's stock valued at $5,092,000 after purchasing an additional 190,136 shares in the last quarter. Catalio Capital Management LP raised its stake in shares of 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 during the period. Geode Capital Management LLC lifted its holdings in Hyperfine by 21.4% during the 4th quarter. Geode Capital Management LLC now owns 815,986 shares of the company's stock worth $799,000 after purchasing an additional 143,975 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Hyperfine by 674.4% in the 4th quarter. Renaissance Technologies LLC now owns 364,743 shares of the company's stock worth $357,000 after purchasing an additional 317,645 shares during the period. Finally, State Street Corp boosted its stake in Hyperfine by 6.1% in the 4th quarter. State Street Corp now owns 265,195 shares of the company's stock worth $260,000 after purchasing an additional 15,200 shares during the period. Hedge funds and other institutional investors own 15.03% of the company's stock.

Hyperfine Stock Up 0.6%

Hyperfine stock opened at $1.69 on Friday. The firm has a 50 day moving average price of $1.23 and a 200-day moving average price of $1.14. Hyperfine has a twelve month low of $0.53 and a twelve month high of $2.22. The company has a market capitalization of $165.55 million, a P/E ratio of -3.84 and a beta of 1.42.

Hyperfine (NASDAQ:HYPR - Get Free Report) last posted its quarterly earnings results on Wednesday, March 18th. The company reported ($0.06) EPS for the quarter, topping analysts' consensus estimates of ($0.08) by $0.02. Hyperfine had a negative net margin of 262.29% and a negative return on equity of 95.09%. The company had revenue of $5.29 million for the quarter, compared to analysts' expectations of $5.30 million. Equities analysts expect that Hyperfine will post -0.34 EPS for the current fiscal year.

About Hyperfine

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.