Brokerages Set Hyperfine, Inc. (NASDAQ:HYPR) Target Price at $1.78

Hyperfine, Inc. (NASDAQ:HYPR) has been assigned an average rating of “Hold” from the six ratings firms that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $1.7833.

A number of analysts have recently weighed in on the stock. B. Riley Financial restated a “buy” rating on shares of Hyperfine in a research note on Wednesday, May 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Hyperfine in a report on Friday, July 17th. Finally, BTIG Research assumed coverage on Hyperfine in a research report on Wednesday, April 29th. They issued a “buy” rating and a $2.00 price target on the stock.

Institutional Investors Weigh In On Hyperfine

Several hedge funds have recently modified their holdings of HYPR. Renaissance Technologies LLC grew its stake in shares of Hyperfine by 100.2% in the first quarter. Renaissance Technologies LLC now owns 730,233 shares of the company’s stock worth $789,000 after acquiring an additional 365,490 shares during the last quarter. Walleye Capital LLC raised its stake in Hyperfine by 3.4% during the 1st quarter. Walleye Capital LLC now owns 223,988 shares of the company’s stock valued at $242,000 after purchasing an additional 7,330 shares during the last quarter. EP Wealth Advisors LLC acquired a new position in Hyperfine during the 4th quarter valued at $34,000. XTX Topco Ltd boosted its holdings in Hyperfine by 47.9% in the 4th quarter. XTX Topco Ltd now owns 80,735 shares of the company’s stock valued at $79,000 after purchasing an additional 26,165 shares during the period. Finally, Millennium Management LLC bought a new stake in Hyperfine in the 4th quarter valued at $55,000. 15.03% of the stock is owned by institutional investors.

Hyperfine Stock Up 4.2%

Hyperfine stock 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 1-year low of $0.85 and a 1-year high of $2.22. The firm’s fifty day simple moving average is $1.30 and its 200-day simple moving average is $1.26. The company has a market capitalization of $92.14 million, a P/E ratio of -2.26 and a beta of 1.40.

Hyperfine (NASDAQ:HYPR) last posted its earnings results on Tuesday, May 12th. The company reported ($0.09) EPS for the quarter, hitting 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 the consensus estimate of $3.54 million. Sell-side analysts forecast that Hyperfine will post -0.34 earnings per share 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.