Hyperfine (NASDAQ:HYPR) Shares Down 2.8% - Time to Sell?

Shares of Hyperfine, Inc. (NASDAQ:HYPR - Get Free Report) dropped 2.8% during mid-day trading on Monday . The stock traded as low as $0.75 and last traded at $0.77. Approximately 630,203 shares were traded during trading, a decline of 29% from the average daily volume of 883,067 shares. The stock had previously closed at $0.80.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. B. Riley restated a "buy" rating on shares of Hyperfine in a research report on Tuesday, June 3rd. Lake Street Capital started coverage on shares of Hyperfine in a research note on Monday, March 24th. They issued a "buy" rating and a $1.50 target price for the company. Finally, Wells Fargo & Company reduced their target price on Hyperfine from $1.29 to $0.68 and set an "equal weight" rating on the stock in a report on Wednesday, May 14th.

Hyperfine Price Performance

The stock has a 50 day moving average price of $0.69 and a two-hundred day moving average price of $0.89. The company has a market capitalization of $62.21 million, a price-to-earnings ratio of -1.40 and a beta of 0.95.

Hyperfine (NASDAQ:HYPR - Get Free Report) last posted its quarterly earnings data on Tuesday, May 13th. The company reported ($0.12) earnings per share for the quarter, meeting the consensus estimate of ($0.12). Hyperfine had a negative net margin of 309.42% and a negative return on equity of 57.54%. The firm had revenue of $2.14 million during the quarter, compared to analysts' expectations of $2.82 million. Sell-side analysts forecast that Hyperfine, Inc. will post -0.57 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of HYPR. Virtu Financial LLC bought a new position in Hyperfine in the 4th quarter valued at $25,000. Renaissance Technologies LLC lifted its stake in shares of Hyperfine by 32.9% during the fourth quarter. Renaissance Technologies LLC now owns 212,300 shares of the company's stock valued at $187,000 after acquiring an additional 52,500 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in Hyperfine by 64.3% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 82,008 shares of the company's stock valued at $72,000 after acquiring an additional 32,093 shares during the last quarter. AMH Equity Ltd bought a new position in Hyperfine in the first quarter valued at about $90,000. Finally, EP Wealth Advisors LLC acquired a new stake in Hyperfine in the first quarter worth about $25,000. Institutional investors own 15.03% of the company's stock.

Hyperfine Company Profile

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.