Wells Fargo & Company Boosts Hyperfine (NASDAQ:HYPR) Price Target to $0.85

Key Points

• Wells Fargo & Company raised Hyperfine's (NASDAQ:HYPR) price target from $0.68 to $0.85, suggesting a potential downside of 41.38% from its current price.
• Lake Street Capital has set a new price target of $2.00 for Hyperfine, maintaining a "buy" rating, while B. Riley reaffirmed a similar "buy" rating.
• Hyperfine reported a revenue of $2.70 million for the last quarter, below analysts' expectations of $3.00 million, and has a negative net margin of -364.54%.

Hyperfine (NASDAQ:HYPR - Get Free Report) had its price target increased by research analysts at Wells Fargo & Company from $0.68 to $0.85 in a report released on Friday,Benzinga reports. The firm presently has an "equal weight" rating on the stock. Wells Fargo & Company's target price points to a potential downside of 33.59% from the company's previous close.

Several other brokerages have also commented on HYPR. B. Riley reiterated a "buy" rating on shares of Hyperfine in a research note on Tuesday, June 3rd. Lake Street Capital increased their price target on shares of Hyperfine from $1.50 to $2.00 and gave the company a "buy" rating in a research note on Thursday, August 14th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $1.28.

Hyperfine Stock Up 0.8%

Hyperfine stock traded up $0.01 during mid-day trading on Friday, hitting $1.28. The company had a trading volume of 66,289 shares, compared to its average volume of 1,429,454. The stock has a market cap of $99.62 million, a price-to-earnings ratio of -2.46 and a beta of 1.06. Hyperfine has a 1 year low of $0.5327 and a 1 year high of $1.90. The business has a fifty day moving average of $0.94 and a 200 day moving average of $0.88.

Hyperfine (NASDAQ:HYPR - Get Free Report) last announced its quarterly earnings results on Wednesday, August 13th. The company reported ($0.12) EPS for the quarter, meeting the consensus estimate of ($0.12). The company had revenue of $2.70 million for the quarter, compared to analyst estimates of $3.00 million. Hyperfine had a negative net margin of 364.54% and a negative return on equity of 84.82%. Hyperfine has set its FY 2025 guidance at EPS. Equities analysts anticipate that Hyperfine will post -0.57 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in HYPR. EP Wealth Advisors LLC acquired a new position in shares of Hyperfine during the 1st quarter worth $25,000. Wealth Enhancement Advisory Services LLC raised its stake in 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 last quarter. AMH Equity Ltd acquired a new position in Hyperfine in the 1st quarter valued at about $90,000. Finally, Renaissance Technologies LLC raised its stake in Hyperfine by 32.9% in the 4th quarter. Renaissance Technologies LLC now owns 212,300 shares of the company's stock valued at $187,000 after purchasing an additional 52,500 shares during the last quarter. Institutional investors and hedge funds own 15.03% of the company's stock.

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.