Hyperfine, Inc. (NASDAQ:HYPR) Short Interest Update

Key Points

• Short interest in Hyperfine surged in June, rising 98.1% to 3.36 million shares by June 30. That equals about 4.6% of the company’s float and a short-interest ratio of 1.3 days.
• Analyst sentiment is mixed, with three Buy ratings, two Hold ratings, and one Sell rating. MarketBeat says the stock’s current average rating is Hold with an average price target of $1.78.
• Hyperfine reported quarterly EPS of -$0.09, matching expectations, while revenue of $3.90 million came in ahead of estimates. The stock was trading around $1.02, near its 52-week range and below both its 50-day and 200-day moving averages.

Hyperfine, Inc. (NASDAQ:HYPR - Get Free Report) was the target of a large growth in short interest during the month of June. As of June 30th, there was short interest totaling 3,358,029 shares, a growth of 98.1% from the June 15th total of 1,694,898 shares. Based on an average daily volume of 2,548,164 shares, the short-interest ratio is currently 1.3 days. Currently, 4.6% of the company's shares are sold short.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on HYPR shares. Zacks Research upgraded Hyperfine to a "hold" rating in a report on Thursday, March 19th. B. Riley Financial reiterated a "buy" rating on shares of Hyperfine in a research report on Wednesday, May 13th. Weiss Ratings restated a "sell (d-)" rating on shares of Hyperfine in a report on Tuesday, April 21st. Lake Street Capital increased their target price on shares of Hyperfine from $2.00 to $2.50 and gave the stock a "buy" rating in a report on Thursday, March 19th. Finally, BTIG Research initiated coverage on shares of Hyperfine in a research report on Wednesday, April 29th. They issued a "buy" rating and a $2.00 price objective for the company. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Hyperfine currently has an average rating of "Hold" and an average price target of $1.78.

Hedge Funds Weigh In On Hyperfine

A number of institutional investors have recently bought and sold shares of HYPR. EP Wealth Advisors LLC bought a new stake in Hyperfine in the 4th quarter valued at $34,000. Sanctuary Advisors LLC lifted its stake in shares of Hyperfine by 130.9% during the 4th quarter. Sanctuary Advisors LLC now owns 39,938 shares of the company's stock worth $39,000 after buying an additional 22,638 shares during the last quarter. Kathmere Capital Management LLC acquired a new stake in shares of Hyperfine during the 4th quarter worth about $51,000. Millennium Management LLC bought a new stake in shares of Hyperfine during the 4th quarter worth about $55,000. Finally, Cerity Partners LLC bought a new stake in shares of Hyperfine during the 4th quarter worth about $59,000. Institutional investors and hedge funds own 15.03% of the company's stock.

Hyperfine Trading Down 1.9%

NASDAQ HYPR opened at $1.02 on Thursday. The stock has a market capitalization of $101.26 million, a price-to-earnings ratio of -2.49 and a beta of 1.40. Hyperfine has a 52 week low of $0.78 and a 52 week high of $2.22. The stock's 50 day moving average price is $1.44 and its two-hundred day moving average price is $1.26. The company has a debt-to-equity ratio of 0.38, a quick ratio of 4.90 and a current ratio of 5.52.

Hyperfine (NASDAQ:HYPR - Get Free Report) last released its earnings results on Tuesday, May 12th. The company reported ($0.09) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.09). The business had revenue of $3.90 million during the quarter, compared to the consensus estimate of $3.54 million. Hyperfine had a negative net margin of 226.88% and a negative return on equity of 98.83%. As a group, analysts anticipate that Hyperfine will post -0.34 earnings per share for the current fiscal year.

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.

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.