Hyperfine (NASDAQ:HYPR) Price Target Raised to $2.00 at Lake Street Capital

Key Points

• Lake Street Capital has raised its price target for Hyperfine (NASDAQ:HYPR) from $1.50 to $2.00, indicating a potential upside of 36.71% from the current price.
• Wells Fargo downgraded Hyperfine's price objective from $1.29 to $0.68, setting an "equal weight" rating, while B. Riley maintains a "buy" rating.
• Hyperfine's recent earnings report showed a net loss of $0.12 per share and revenues of $2.70 million, falling short of analyst estimates of $3.00 million.

Hyperfine (NASDAQ:HYPR - Get Free Report) had its price objective lifted by investment analysts at Lake Street Capital from $1.50 to $2.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Lake Street Capital's target price indicates a potential upside of 36.71% from the company's current price.

Other equities analysts have also recently issued reports about the company. Wells Fargo & Company decreased their price objective on Hyperfine from $1.29 to $0.68 and set an "equal weight" rating on the stock in a report on Wednesday, May 14th. B. Riley restated a "buy" rating on shares of Hyperfine in a research report on Tuesday, June 3rd.

Hyperfine Price Performance

Hyperfine stock traded up $0.19 during mid-day trading on Thursday, hitting $1.46. 1,687,439 shares of the company's stock traded hands, compared to its average volume of 1,455,185. The firm has a 50 day simple moving average of $0.90 and a two-hundred day simple moving average of $0.87. Hyperfine has a fifty-two week low of $0.53 and a fifty-two week high of $1.90. The stock has a market cap of $113.87 million, a price-to-earnings ratio of -2.74 and a beta of 1.06.

Hyperfine (NASDAQ:HYPR - Get Free Report) last released its quarterly earnings data on Wednesday, August 13th. The company reported ($0.12) earnings per share for the quarter, meeting the consensus estimate of ($0.12). The business had revenue of $2.70 million for the quarter, compared to analyst estimates of $3.00 million. Hyperfine had a negative return on equity of 74.19% and a negative net margin of 343.42%. On average, research analysts anticipate that Hyperfine will post -0.57 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Hyperfine

Several hedge funds have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC boosted its holdings 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 period. Renaissance Technologies LLC lifted its holdings in shares of Hyperfine by 32.9% during the 4th 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. AMH Equity Ltd bought a new position in shares of Hyperfine during the 1st quarter worth about $90,000. Finally, EP Wealth Advisors LLC bought a new position in shares of Hyperfine during the 1st quarter worth about $25,000. Hedge funds and other institutional investors 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.

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