Hyperfine, Inc. (NASDAQ:HYPR) Short Interest Update

Hyperfine, Inc. (NASDAQ:HYPR) was the target of a significant increase in short interest in March. As of March 31st, there was short interest totalling 2,380,000 shares, an increase of 33.7% from the March 15th total of 1,780,000 shares. Based on an average daily trading volume, of 1,130,000 shares, the days-to-cover ratio is currently 2.1 days. Approximately 4.1% of the shares of the company are sold short.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on HYPR shares. B. Riley reduced their target price on shares of Hyperfine from $1.50 to $1.20 and set a “buy” rating for the company in a report on Thursday, March 20th. Wells Fargo & Company boosted their price target on Hyperfine from $1.10 to $1.29 and gave the stock an “equal weight” rating in a report on Tuesday, March 18th. Finally, Lake Street Capital initiated coverage on shares of Hyperfine in a research report on Monday, March 24th. They set a “buy” rating and a $1.50 price objective on the stock.

Hedge Funds Weigh In On Hyperfine

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC raised its position in shares of Hyperfine by 18.7% during the 3rd quarter. Geode Capital Management LLC now owns 624,520 shares of the company’s stock valued at $675,000 after buying an additional 98,335 shares in the last quarter. Renaissance Technologies LLC raised its position in Hyperfine by 32.9% during the fourth quarter. Renaissance Technologies LLC now owns 212,300 shares of the company’s stock valued at $187,000 after purchasing an additional 52,500 shares during the period. Graypoint LLC bought a new stake in shares of Hyperfine in the 4th quarter valued at approximately $44,000. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Hyperfine by 64.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 82,008 shares of the company’s stock worth $72,000 after purchasing an additional 32,093 shares during the period. Finally, Virtu Financial LLC bought a new position in shares of Hyperfine during the 4th quarter valued at approximately $25,000. 15.03% of the stock is owned by hedge funds and other institutional investors.

Hyperfine Trading Up 4.1 %

Shares of HYPR stock opened at $0.70 on Monday. The stock has a market capitalization of $54.18 million, a price-to-earnings ratio of -1.22 and a beta of 1.05. Hyperfine has a 12-month low of $0.58 and a 12-month high of $1.90. The stock’s 50-day moving average price is $0.87 and its 200-day moving average price is $0.96.

Hyperfine (NASDAQ:HYPR) last posted its earnings results on Monday, March 17th. The company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.02. Hyperfine had a negative return on equity of 57.54% and a negative net margin of 309.42%. The firm had revenue of $2.32 million during the quarter, compared to the consensus estimate of $2.30 million. During the same period in the prior year, the company earned ($0.15) EPS. As a group, research analysts predict that Hyperfine will post -0.57 EPS for the current fiscal year.

Hyperfine Company Profile

Hyperfine, Inc, a medical device company, provides magnetic resonance imaging (MRI) products in the United States. The company offers Swoop Portable MR imaging system, which offers portable brain neuroimaging; and support and technical assistance services. It serves ICU, comprehensive, and primary stroke accredited facilities through direct sales and distributors.