Hyperfine, Inc. (NASDAQ:HYPR) Short Interest Down 13.7% in May

Hyperfine, Inc. (NASDAQ:HYPR - Get Free Report) saw a significant decline in short interest in the month of May. As of May 15th, there was short interest totalling 1,200,000 shares, a decline of 13.7% from the April 30th total of 1,390,000 shares. Approximately 2.1% of the company's shares are short sold. Based on an average daily volume of 1,080,000 shares, the days-to-cover ratio is currently 1.1 days.

Institutional Trading of Hyperfine

Several hedge funds have recently made changes to their positions in the business. Virtu Financial LLC purchased a new stake in Hyperfine during the 4th quarter worth approximately $25,000. EP Wealth Advisors LLC purchased a new position in Hyperfine in the 1st quarter valued at approximately $25,000. Wealth Enhancement Advisory Services LLC grew its stake in shares of Hyperfine by 64.3% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 82,008 shares of the company's stock worth $72,000 after acquiring an additional 32,093 shares in the last quarter. AMH Equity Ltd purchased a new stake in shares of Hyperfine during the first quarter worth $90,000. Finally, Renaissance Technologies LLC increased its position in shares of Hyperfine by 32.9% during the fourth quarter. Renaissance Technologies LLC now owns 212,300 shares of the company's stock worth $187,000 after acquiring an additional 52,500 shares during the period. Institutional investors and hedge funds own 15.03% of the company's stock.

Hyperfine Trading Down 7.8%

Hyperfine stock traded down $0.07 during trading on Friday, hitting $0.80. The company had a trading volume of 1,608,879 shares, compared to its average volume of 877,453. The stock has a market cap of $61.97 million, a price-to-earnings ratio of -1.40 and a beta of 0.95. Hyperfine has a 1-year low of $0.53 and a 1-year high of $1.90. The company's 50 day simple moving average is $0.68 and its 200-day simple moving average is $0.89.

Hyperfine (NASDAQ:HYPR - Get Free Report) last issued its quarterly earnings data on Tuesday, May 13th. The company reported ($0.12) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.12). Hyperfine had a negative return on equity of 57.54% and a negative net margin of 309.42%. The business had revenue of $2.14 million during the quarter, compared to analysts' expectations of $2.82 million. As a group, analysts forecast that Hyperfine will post -0.57 earnings per share for the current fiscal year.

Analyst Ratings Changes

HYPR has been the subject of a number of research analyst reports. Lake Street Capital began coverage on Hyperfine in a report on Monday, March 24th. They set a "buy" rating and a $1.50 price target for the company. Wells Fargo & Company decreased their target price on shares of Hyperfine from $1.29 to $0.68 and set an "equal weight" rating on the stock in a research report on Wednesday, May 14th. Finally, B. Riley reaffirmed a "buy" rating on shares of Hyperfine in a research note on Tuesday.

About Hyperfine

Hyperfine, Inc, a medical device company, provides magnetic resonance imaging (MRI) products in the United States. The company offers Swoop Portable MR imaging system, which offers portable brain neuroimaging; and support and technical assistance services. It serves ICU, comprehensive, and primary stroke accredited facilities through direct sales and distributors.