Hyperfine (NASDAQ:HYPR) Announces Quarterly Earnings Results, Misses Expectations By $0.04 EPS

Hyperfine (NASDAQ:HYPR) announced its quarterly earnings data on Thursday. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.04), FiscalAI reports. Hyperfine had a negative return on equity of 84.82% and a negative net margin of 364.54%.The business had revenue of $3.44 million during the quarter, compared to analysts’ expectations of $3.51 million.

Hyperfine Stock Down 4.5%

Hyperfine stock traded down $0.05 during midday trading on Thursday, reaching $1.05. 590,731 shares of the stock traded hands, compared to its average volume of 1,208,590. The stock’s fifty day moving average is $1.39 and its 200-day moving average is $1.06. Hyperfine has a 12 month low of $0.53 and a 12 month high of $2.22. The stock has a market cap of $82.51 million, a P/E ratio of -2.02 and a beta of 1.08.

Institutional Trading of Hyperfine

An institutional investor recently raised its position in Hyperfine stock. Vanguard Group Inc. grew its stake in Hyperfine, Inc. (NASDAQ:HYPR) by 5.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,511,972 shares of the company’s stock after acquiring an additional 190,136 shares during the period. Vanguard Group Inc. owned 4.47% of Hyperfine worth $5,092,000 at the end of the most recent reporting period. 15.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

HYPR has been the subject of a number of analyst reports. Wall Street Zen raised Hyperfine from a “sell” rating to a “hold” rating in a research report on Saturday, October 25th. Weiss Ratings reissued a “sell (d-)” rating on shares of Hyperfine in a research report on Wednesday, October 8th. Wells Fargo & Company increased their price objective on Hyperfine from $0.68 to $0.85 and gave the company an “equal weight” rating in a research report on Friday, August 15th. Finally, Lake Street Capital boosted their target price on shares of Hyperfine from $1.50 to $2.00 and gave the company a “buy” rating in a research note on Thursday, August 14th. Two 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 company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $1.28.

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.