Hyperfine, Inc. (NASDAQ:HYPR) Short Interest Up 29.5% in December

Hyperfine, Inc. (NASDAQ:HYPR) saw a large increase in short interest in December. As of December 31st, there was short interest totaling 854,005 shares, an increase of 29.5% from the December 15th total of 659,270 shares. Based on an average daily volume of 687,679 shares, the short-interest ratio is presently 1.2 days. Approximately 1.3% of the shares of the stock are short sold. Approximately 1.3% of the shares of the stock are short sold. Based on an average daily volume of 687,679 shares, the short-interest ratio is presently 1.2 days.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on HYPR. Wall Street Zen upgraded shares of Hyperfine from a “sell” rating to a “hold” rating in a research report on Saturday, October 25th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Hyperfine in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $1.28.

Hyperfine Stock Performance

Shares of NASDAQ:HYPR traded down $0.02 on Monday, reaching $1.20. The company’s stock had a trading volume of 435,180 shares, compared to its average volume of 536,989. The company has a 50-day simple moving average of $1.04 and a 200 day simple moving average of $1.18. Hyperfine has a 52-week low of $0.53 and a 52-week high of $2.22. The company has a market cap of $116.60 million, a P/E ratio of -2.31 and a beta of 1.09.

Hyperfine (NASDAQ:HYPR) last announced its earnings results on Thursday, November 13th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.01). The business had revenue of $3.44 million for the quarter, compared to analysts’ expectations of $3.51 million. Hyperfine had a negative net margin of 378.17% and a negative return on equity of 97.95%. On average, equities research analysts forecast that Hyperfine will post -0.57 EPS for the current fiscal year.

Institutional Trading of Hyperfine

Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Hyperfine by 5.7% during the third quarter. Vanguard Group Inc. now owns 3,511,972 shares of the company’s stock valued at $5,092,000 after acquiring an additional 190,136 shares during the last quarter. Kathmere Capital Management LLC bought a new position in shares of Hyperfine during the fourth quarter valued at approximately $51,000. Finally, Tortoise Investment Management LLC purchased a new stake in shares of Hyperfine in the third quarter worth approximately $65,000. 15.03% of the stock is currently owned by 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.