Hyperfine, Inc. (NASDAQ:HYPR) Receives Average Recommendation of “Hold” from Analysts

Hyperfine, Inc. (NASDAQ:HYPR) has received a consensus recommendation of “Hold” from the six analysts that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $1.7833.

HYPR has been the subject of several research analyst reports. Lake Street Capital lifted their target price on shares of Hyperfine from $2.00 to $2.50 and gave the stock a “buy” rating in a report on Thursday, March 19th. Weiss Ratings reissued a “sell (d-)” rating on shares of Hyperfine in a report on Tuesday, April 21st. BTIG Research started coverage on shares of Hyperfine in a report on Wednesday, April 29th. They issued a “buy” rating and a $2.00 price objective for the company. Zacks Research raised shares of Hyperfine to a “hold” rating in a report on Thursday, March 19th. Finally, B. Riley Financial reissued a “buy” rating on shares of Hyperfine in a report on Wednesday, May 13th.

Insider Transactions at Hyperfine

In other news, CFO Brett Hale sold 24,188 shares of the company’s stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $1.21, for a total transaction of $29,267.48. Following the completion of the sale, the chief financial officer owned 275,812 shares of the company’s stock, valued at approximately $333,732.52. This represents a 8.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Thomas Teisseyre sold 24,188 shares of the company’s stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $1.21, for a total transaction of $29,267.48. Following the transaction, the chief operating officer owned 354,648 shares of the company’s stock, valued at approximately $429,124.08. This represents a 6.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 60,470 shares of company stock valued at $78,490 in the last three months. Insiders own 26.33% of the company’s stock.

Hedge Funds Weigh In On Hyperfine

A number of institutional investors have recently added to or reduced their stakes in HYPR. Vanguard Group Inc. increased its position in Hyperfine by 5.7% in the 3rd 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 period. Tortoise Investment Management LLC acquired a new position in Hyperfine in the 3rd quarter valued at approximately $65,000. Kathmere Capital Management LLC acquired a new position in Hyperfine in the 4th quarter valued at approximately $51,000. Sanctuary Advisors LLC increased its position in 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 acquiring an additional 22,638 shares during the period. Finally, Geode Capital Management LLC increased its position in Hyperfine by 21.4% in the 4th quarter. Geode Capital Management LLC now owns 815,986 shares of the company’s stock valued at $799,000 after acquiring an additional 143,975 shares during the period. 15.03% of the stock is currently owned by institutional investors and hedge funds.

Hyperfine Stock Down 0.7%

Hyperfine stock opened at $1.49 on Thursday. The firm has a market capitalization of $147.91 million, a PE ratio of -3.63 and a beta of 1.38. The company’s 50-day moving average is $1.38 and its 200-day moving average is $1.20. Hyperfine has a fifty-two week low of $0.61 and a fifty-two week high of $2.22. The company has a debt-to-equity ratio of 0.38, a current ratio of 5.52 and a quick ratio of 4.90.

Hyperfine (NASDAQ:HYPR) last released its quarterly earnings data on Tuesday, May 12th. The company reported ($0.09) earnings per share for the quarter, hitting the consensus estimate of ($0.09). The company had revenue of $3.90 million for the quarter, compared to analyst estimates of $3.54 million. Hyperfine had a negative net margin of 226.88% and a negative return on equity of 98.83%. Sell-side analysts anticipate that Hyperfine will post -0.34 earnings per share for the current year.

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.