Hyperfine (NASDAQ:HYPR) Coverage Initiated by Analysts at BTIG Research

Key Points

• BTIG Research initiated coverage on Hyperfine with a buy rating and a $2.00 price target, implying about a 53.9% upside versus the recent close, while the MarketBeat consensus remains a "Hold" with a $1.59 target.
• The stock opened at $1.30, trades in a 52-week range of $0.53–$2.22 with a $127.35M market cap, and the company reported a Q1 EPS loss of $0.06 (beating estimates by $0.02) on $5.29M revenue, with analysts expecting about -$0.34 EPS for the year.
• Insiders (including the CFO and COO) sold 24,188 shares each at $1.21 on March 23, reducing their stakes; insiders now own 26.33% of the stock while institutional/hedge fund ownership is about 15.03%.

BTIG Research assumed coverage on shares of Hyperfine (NASDAQ:HYPR - Get Free Report) in a research report issued on Wednesday,Benzinga reports. The firm set a "buy" rating and a $2.00 price target on the stock. BTIG Research's price target would indicate a potential upside of 53.85% from the stock's previous close.

HYPR has been the topic of several other reports. Zacks Research upgraded Hyperfine to a "hold" rating in a research report on Thursday, March 19th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Hyperfine in a research report on Tuesday, April 21st. Finally, Lake Street Capital boosted their price objective on shares of Hyperfine from $2.00 to $2.50 and gave the stock a "buy" rating in a report on Thursday, March 19th. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Hyperfine currently has a consensus rating of "Hold" and a consensus target price of $1.59.

Hyperfine Stock Performance

Hyperfine stock opened at $1.30 on Wednesday. Hyperfine has a fifty-two week low of $0.53 and a fifty-two week high of $2.22. The stock has a market cap of $127.35 million, a P/E ratio of -2.95 and a beta of 1.06. The firm's fifty day moving average price is $1.18 and its 200-day moving average price is $1.15.

Hyperfine (NASDAQ:HYPR - Get Free Report) last announced its earnings results on Wednesday, March 18th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $5.30 million. On average, analysts predict that Hyperfine will post -0.34 earnings per share for the current year.

Insider Activity at Hyperfine

In other Hyperfine news, CFO Brett Hale sold 24,188 shares of the stock in a transaction 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 completion of the sale, the chief financial officer owned 275,812 shares of the company's stock, valued at $333,732.52. This represents a 8.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Thomas Teisseyre sold 24,188 shares of the firm's stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $1.21, for a total transaction of $29,267.48. Following the completion of the sale, the chief operating officer directly owned 354,648 shares in the company, valued at approximately $429,124.08. This trade represents a 6.38% decrease in their position. The disclosure for this sale is available in the SEC filing. 26.33% of the stock is currently owned by company insiders.

Institutional Trading of Hyperfine

A number of institutional investors have recently modified their holdings of HYPR. EP Wealth Advisors LLC bought a new stake in shares of Hyperfine in the fourth quarter worth about $34,000. Sanctuary Advisors LLC lifted its holdings in Hyperfine by 130.9% in 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 period. Kathmere Capital Management LLC bought a new stake in shares of Hyperfine in the 4th quarter worth approximately $51,000. Millennium Management LLC bought a new stake in shares of Hyperfine in the 4th quarter worth approximately $55,000. Finally, Cerity Partners LLC purchased a new position in shares of Hyperfine during the fourth quarter valued at approximately $59,000. 15.03% of the stock is currently owned by hedge funds and other institutional investors.

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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