Hyperfine, Inc. (NASDAQ:HYPR) Sees Large Growth in Short Interest

Hyperfine, Inc. (NASDAQ:HYPR) saw a significant growth in short interest in the month of June. As of June 30th, there was short interest totaling 3,358,029 shares, a growth of 98.1% from the June 15th total of 1,694,898 shares. Currently, 4.6% of the shares of the company are short sold. Based on an average daily trading volume, of 2,548,164 shares, the days-to-cover ratio is presently 1.3 days.

Wall Street Analysts Forecast Growth

A number of analysts have commented on HYPR shares. B. Riley Financial reaffirmed a “buy” rating on shares of Hyperfine in a report on Wednesday, May 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Hyperfine in a research note on Tuesday, April 21st. Finally, BTIG Research began coverage on shares of Hyperfine in a research report on Wednesday, April 29th. They set a “buy” rating and a $2.00 price objective for the company. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $1.78.

Institutional Trading of Hyperfine

Several hedge funds have recently bought and sold shares of HYPR. EP Wealth Advisors LLC bought a new position in shares of Hyperfine during the 4th quarter valued at about $34,000. Sanctuary Advisors LLC increased its holdings in shares of 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 during the last quarter. Kathmere Capital Management LLC purchased a new stake in shares of Hyperfine in the fourth quarter worth about $51,000. Millennium Management LLC purchased a new stake in shares of Hyperfine in the fourth quarter worth about $55,000. Finally, Cerity Partners LLC purchased a new stake in shares of Hyperfine in the fourth quarter worth about $59,000. Hedge funds and other institutional investors own 15.03% of the company’s stock.

Hyperfine Stock Performance

NASDAQ:HYPR opened at $0.93 on Friday. The company has a current ratio of 5.52, a quick ratio of 4.90 and a debt-to-equity ratio of 0.38. Hyperfine has a 12-month low of $0.85 and a 12-month high of $2.22. The stock has a 50-day moving average price of $1.41 and a 200 day moving average price of $1.26. The stock has a market capitalization of $92.39 million, a P/E ratio of -2.27 and a beta of 1.40.

Hyperfine (NASDAQ:HYPR) last released its quarterly earnings data on Tuesday, May 12th. The company reported ($0.09) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.09). Hyperfine had a negative net margin of 226.88% and a negative return on equity of 98.83%. The firm had revenue of $3.90 million for the quarter, compared to analysts’ expectations of $3.54 million. Equities research analysts forecast that Hyperfine will post -0.34 EPS for the current fiscal year.

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.