Hyperfine (NASDAQ:HYPR) Trading 1% Higher - Here's Why

Key Points

• Hyperfine shares rose 1% to $0.8218 in mid-day trading, although volume was about 50% below the average session level.
• Analyst sentiment is mixed: three analysts rate the stock Buy, while others rate it Hold or Sell. The consensus rating is Hold, with a $2.03 target price; B. Riley recently lowered its target to $1.60 from $2.00.
• Hyperfine matched quarterly EPS expectations at a loss of $0.09 but reported revenue of $3.90 million, below the $4.13 million estimate. The company continues to post steep losses, including a negative net margin of 210.75%.

Hyperfine, Inc. (NASDAQ:HYPR - Get Free Report)'s share price traded up 1% during mid-day trading on Tuesday . The company traded as high as $0.8388 and last traded at $0.8218. 258,274 shares were traded during mid-day trading, a decline of 50% from the average session volume of 514,848 shares. The stock had previously closed at $0.8133.

Analyst Ratings Changes

HYPR has been the subject of a number of research reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of Hyperfine in a research report on Friday, July 17th. B. Riley Financial reissued a "buy" rating and issued a $1.60 price target (down from $2.00) on shares of Hyperfine in a research report on Monday, August 10th. Finally, BTIG Research reissued a "buy" rating and issued a $2.00 price target on shares of Hyperfine in a research report on Thursday, August 20th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $2.03.

Hyperfine Stock Up 1.0%

The stock has a market capitalization of $87.15 million, a P/E ratio of -2.16 and a beta of 1.41. The company has a debt-to-equity ratio of 0.36, a current ratio of 6.15 and a quick ratio of 5.45. The stock has a fifty day moving average price of $0.97 and a 200 day moving average price of $1.21.

Hyperfine (NASDAQ:HYPR - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.09). The company had revenue of $3.90 million for the quarter, compared to analyst estimates of $4.13 million. Hyperfine had a negative return on equity of 97.88% and a negative net margin of 210.75%. On average, research analysts forecast that Hyperfine, Inc. will post -0.34 earnings per share for the current year.

Institutional Investors Weigh In On Hyperfine

A number of institutional investors and hedge funds have recently modified their holdings of the company. EP Wealth Advisors LLC bought a new position in shares of Hyperfine in the fourth quarter valued at approximately $34,000. Sanctuary Advisors LLC increased its holdings in Hyperfine by 130.9% during the 4th quarter. Sanctuary Advisors LLC now owns 39,938 shares of the company's stock worth $39,000 after acquiring an additional 22,638 shares during the period. Millennium Management LLC purchased a new stake in Hyperfine in the 4th quarter worth approximately $55,000. Cerity Partners LLC purchased a new stake in Hyperfine in the 4th quarter worth approximately $59,000. Finally, Tortoise Investment Management LLC boosted its holdings in Hyperfine by 60.0% in 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 during the period. 15.03% of the stock is owned by hedge funds and other institutional investors.

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.

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