Short Interest in Hyperfine, Inc. (NASDAQ:HYPR) Grows By 33.7%

Hyperfine, Inc. (NASDAQ:HYPR - Get Free Report) saw a large increase in short interest in the month of March. As of March 31st, there was short interest totalling 2,380,000 shares, an increase of 33.7% from the March 15th total of 1,780,000 shares. Based on an average daily volume of 1,130,000 shares, the days-to-cover ratio is currently 2.1 days. Approximately 4.1% of the company's shares are short sold.

Institutional Investors Weigh In On Hyperfine

Several institutional investors have recently added to or reduced their stakes in HYPR. Wealth Enhancement Advisory Services LLC raised its stake in shares of Hyperfine by 64.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 82,008 shares of the company's stock valued at $72,000 after purchasing an additional 32,093 shares during the period. Renaissance Technologies LLC grew its holdings 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 buying an additional 52,500 shares in the last quarter. Virtu Financial LLC acquired a new stake in Hyperfine in the 4th quarter valued at approximately $25,000. Graypoint LLC bought a new stake in Hyperfine in the 4th quarter valued at approximately $44,000. Finally, Geode Capital Management LLC boosted its position in Hyperfine by 18.7% during the 3rd quarter. Geode Capital Management LLC now owns 624,520 shares of the company's stock worth $675,000 after acquiring an additional 98,335 shares during the last quarter. 15.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

HYPR has been the subject of a number of analyst reports. Wells Fargo & Company lifted their price objective on Hyperfine from $1.10 to $1.29 and gave the stock an "equal weight" rating in a research note on Tuesday, March 18th. B. Riley lowered their price target on Hyperfine from $1.50 to $1.20 and set a "buy" rating for the company in a research note on Thursday, March 20th. Finally, Lake Street Capital started coverage on shares of Hyperfine in a research report on Monday, March 24th. They issued a "buy" rating and a $1.50 price target on the stock.

Hyperfine Stock Performance

HYPR stock traded up $0.01 during midday trading on Thursday, hitting $0.78. 122,467 shares of the company's stock were exchanged, compared to its average volume of 381,167. Hyperfine has a one year low of $0.58 and a one year high of $1.90. The company has a market cap of $60.41 million, a PE ratio of -1.36 and a beta of 1.05. The stock's fifty day moving average price is $0.85 and its 200-day moving average price is $0.95.

Hyperfine (NASDAQ:HYPR - Get Free Report) last released its quarterly earnings data on Monday, March 17th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.02. The business had revenue of $2.32 million for the quarter, compared to analysts' expectations of $2.30 million. Hyperfine had a negative return on equity of 57.54% and a negative net margin of 309.42%. During the same quarter in the previous year, the business posted ($0.15) EPS. On average, analysts expect that Hyperfine will post -0.57 EPS for the current year.

Hyperfine Company Profile

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.