Hyperfine (NASDAQ:HYPR) Upgraded by Zacks Research to "Hold" Rating

Key Points

• Zacks Research upgraded Hyperfine (NASDAQ:HYPR) to a "Hold" rating; analyst coverage is mixed (2 Buy, 2 Hold, 1 Sell) with an average target price of $1.45.
• Shares opened at $1.24 with a market cap of ~$120.5M; Hyperfine slightly beat quarterly EPS estimates (reported -$0.06 vs. -$0.08 expected) but remains unprofitable with a negative ROE and net margin and is forecast to post about -0.57 EPS this year.
• Hyperfine's flagship product, Swoop, is a portable bedside MRI system aimed at expanding access to neuroimaging in settings like EDs, ICUs and outpatient clinics.

Hyperfine (NASDAQ:HYPR - Get Free Report) was upgraded by analysts at Zacks Research to a "hold" rating in a research note issued on Thursday,Zacks.com reports.

A number of other research firms have also recently issued reports on HYPR. Weiss Ratings restated a "sell (d-)" rating on shares of Hyperfine in a report on Thursday, January 22nd. Lake Street Capital increased their target price on Hyperfine from $2.00 to $2.50 and gave the stock a "buy" rating in a research note on Thursday. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Hyperfine has an average rating of "Hold" and an average target price of $1.45.

Hyperfine Price Performance

Shares of NASDAQ HYPR opened at $1.24 on Thursday. The company has a market cap of $120.49 million, a P/E ratio of -2.82 and a beta of 1.09. Hyperfine has a 1 year low of $0.53 and a 1 year high of $2.22. The firm has a 50-day simple moving average of $1.15 and a two-hundred day simple moving average of $1.20.

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, beating the consensus estimate of ($0.08) by $0.02. Hyperfine had a negative return on equity of 95.09% and a negative net margin of 262.29%.The business had revenue of $5.29 million during the quarter, compared to analyst estimates of $5.30 million. As a group, equities research analysts expect that Hyperfine will post -0.57 EPS for the current year.

Hedge Funds Weigh In On Hyperfine

A number of institutional investors have recently modified their holdings of the stock. State Street Corp boosted its holdings in shares of Hyperfine by 6.1% in the fourth quarter. State Street Corp now owns 265,195 shares of the company's stock valued at $260,000 after purchasing an additional 15,200 shares during the period. Sanctuary Advisors LLC grew its stake in Hyperfine by 130.9% in the fourth quarter. Sanctuary Advisors LLC now owns 39,938 shares of the company's stock worth $39,000 after purchasing an additional 22,638 shares in the last quarter. XTX Topco Ltd increased its holdings in Hyperfine by 47.9% during the 4th quarter. XTX Topco Ltd now owns 80,735 shares of the company's stock worth $79,000 after purchasing an additional 26,165 shares during the period. Tortoise Investment Management LLC raised its position in Hyperfine by 60.0% during the 4th quarter. Tortoise Investment Management LLC now owns 72,000 shares of the company's stock valued at $71,000 after purchasing an additional 27,000 shares in the last quarter. Finally, EP Wealth Advisors LLC bought a new stake in Hyperfine during the 4th quarter valued at $34,000. 15.03% of the stock is 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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