Lake Street Capital Forecasts Strong Price Appreciation for Hyperfine (NASDAQ:HYPR) Stock

Key Points

• Lake Street Capital raised its target for Hyperfine from $2.00 to $2.50 and maintained a "buy" rating, implying about a 106.61% upside from the prior close.
• Analyst sentiment is mixed — two Buys, one Hold and one Sell — producing an average rating of Hold and an average price target of $1.45, while the stock traded at $1.21 (down 4.7%) with a market cap near $117.6M.
• Fundamentals remain weak: Hyperfine reported EPS of ($0.06) and revenue of $5.29M (slightly below estimates), with a negative net margin of 378.17% and negative ROE; institutional investors own about 15% of the shares, with several funds taking small recent positions.

Hyperfine (NASDAQ:HYPR - Get Free Report) had its target price raised by equities researchers at Lake Street Capital from $2.00 to $2.50 in a research note issued on Thursday,Benzinga reports. The firm presently has a "buy" rating on the stock. Lake Street Capital's price target suggests a potential upside of 106.61% from the stock's previous close.

Separately, Weiss Ratings reiterated a "sell (d-)" rating on shares of Hyperfine in a report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $1.45.

Hyperfine Stock Down 4.7%

NASDAQ HYPR traded down $0.06 during trading on Thursday, hitting $1.21. The stock had a trading volume of 1,047,613 shares, compared to its average volume of 492,415. The company has a market capitalization of $117.57 million, a PE ratio of -2.33 and a beta of 1.09. The firm has a 50 day moving average price of $1.15 and a 200 day moving average price of $1.20. Hyperfine has a twelve month low of $0.53 and a twelve month high of $2.22.

Hyperfine (NASDAQ:HYPR - Get Free Report) last issued its quarterly earnings results on Wednesday, March 18th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.02. Hyperfine had a negative net margin of 378.17% and a negative return on equity of 97.95%. The business had revenue of $5.29 million for the quarter, compared to analysts' expectations of $5.30 million. On average, sell-side analysts anticipate that Hyperfine will post -0.57 earnings per share for the current year.

Institutional Trading of Hyperfine

Several hedge funds have recently added to or reduced their stakes in the company. EP Wealth Advisors LLC acquired a new position in Hyperfine during the 4th quarter worth approximately $34,000. Sanctuary Advisors LLC raised its holdings in shares of Hyperfine by 130.9% in the 4th quarter. Sanctuary Advisors LLC now owns 39,938 shares of the company's stock valued at $39,000 after purchasing an additional 22,638 shares in the last quarter. Tortoise Investment Management LLC purchased a new stake in shares of Hyperfine during the 3rd quarter worth $65,000. Kathmere Capital Management LLC acquired a new position in shares of Hyperfine during the fourth quarter worth $51,000. Finally, Millennium Management LLC purchased a new stake in Hyperfine during the 4th quarter worth about $55,000. Institutional investors and hedge funds own 15.03% of the company's stock.

About Hyperfine

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.