Hyperfine (NASDAQ:HYPR) Trading Up 0.5% - Should You Buy?

Hyperfine, Inc. (NASDAQ:HYPR - Get Free Report)'s stock price traded up 0.5% during trading on Monday . The company traded as high as $0.75 and last traded at $0.74. 207,294 shares traded hands during mid-day trading, a decline of 45% from the average session volume of 380,075 shares. The stock had previously closed at $0.73.

Analyst Ratings Changes

A number of equities analysts recently commented on HYPR shares. Lake Street Capital assumed coverage on shares of Hyperfine in a research note on Monday, March 24th. They set a "buy" rating and a $1.50 price target for the company. Wells Fargo & Company raised their price target on shares of Hyperfine from $1.10 to $1.29 and gave the stock an "equal weight" rating in a research report on Tuesday, March 18th. Finally, B. Riley lowered their price target on Hyperfine from $1.50 to $1.20 and set a "buy" rating on the stock in a research report on Thursday, March 20th.

Hyperfine Stock Up 4.1 %

The firm has a 50-day moving average of $0.87 and a two-hundred day moving average of $0.96. The company has a market capitalization of $54.18 million, a PE ratio of -1.22 and a beta of 1.05.

Hyperfine (NASDAQ:HYPR - Get Free Report) last issued its earnings results 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. Hyperfine had a negative net margin of 309.42% and a negative return on equity of 57.54%. The firm had revenue of $2.32 million for the quarter, compared to analysts' expectations of $2.30 million. During the same quarter last year, the company earned ($0.15) earnings per share. On average, equities research analysts expect that Hyperfine, Inc. will post -0.57 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of HYPR. Geode Capital Management LLC lifted its holdings in shares of Hyperfine by 18.7% during the third quarter. Geode Capital Management LLC now owns 624,520 shares of the company's stock worth $675,000 after purchasing an additional 98,335 shares during the period. Renaissance Technologies LLC raised its position in shares of Hyperfine by 32.9% in the fourth quarter. Renaissance Technologies LLC now owns 212,300 shares of the company's stock valued at $187,000 after buying an additional 52,500 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Hyperfine by 64.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 82,008 shares of the company's stock valued at $72,000 after buying an additional 32,093 shares during the period. Graypoint LLC purchased a new stake in Hyperfine in the 4th quarter worth approximately $44,000. Finally, Virtu Financial LLC acquired a new position in Hyperfine in the 4th quarter valued at $25,000. 15.03% of the stock is currently owned by hedge funds and other institutional investors.

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.