Hyperfine (NASDAQ:HYPR) Stock Price Up 1% – Here’s What Happened

Hyperfine, Inc. (NASDAQ:HYPR)’s stock price was up 1% during trading on Tuesday . The company traded as high as $0.8388 and last traded at $0.8218. Approximately 258,274 shares traded hands during mid-day trading, a decline of 50% from the average daily volume of 514,848 shares. The stock had previously closed at $0.8133.

Analyst Upgrades and Downgrades

HYPR has been the topic of several research reports. B. Riley Financial reiterated a “buy” rating and set a $1.60 price objective (down from $2.00) on shares of Hyperfine in a report on Monday, August 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of Hyperfine in a report on Friday, July 17th. Finally, BTIG Research reiterated a “buy” rating and set a $2.00 target price on shares of Hyperfine in a research report on Thursday, August 20th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $2.03.

Hyperfine Price Performance

The firm has a 50-day moving average price of $0.95 and a 200 day moving average price of $1.21. The stock has a market capitalization of $83.40 million, a P/E ratio of -2.07 and a beta of 1.41. The company has a debt-to-equity ratio of 0.36, a quick ratio of 5.45 and a current ratio of 6.15.

Hyperfine (NASDAQ:HYPR) last posted its earnings results on Thursday, August 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.09). The company had revenue of $3.90 million for the quarter, compared to analysts’ expectations of $4.13 million. Hyperfine had a negative return on equity of 97.88% and a negative net margin of 210.75%. On average, analysts expect that Hyperfine, Inc. will post -0.34 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Bank of New York Mellon Corp bought a new position in Hyperfine in the 2nd quarter worth about $419,000. Renaissance Technologies LLC raised its stake in shares of Hyperfine by 100.2% during the 1st quarter. Renaissance Technologies LLC now owns 730,233 shares of the company’s stock valued at $789,000 after buying an additional 365,490 shares during the last quarter. Walleye Capital LLC increased its position in shares of Hyperfine by 3.4% in the first quarter. Walleye Capital LLC now owns 223,988 shares of the company’s stock valued at $242,000 after buying an additional 7,330 shares in the last quarter. EP Wealth Advisors LLC purchased a new stake in shares of Hyperfine during the fourth quarter worth approximately $34,000. Finally, XTX Topco Ltd raised its position in shares of Hyperfine by 47.9% during the 4th quarter. XTX Topco Ltd now owns 80,735 shares of the company’s stock valued at $79,000 after buying an additional 26,165 shares during the period. Institutional investors own 15.03% of the company’s stock.

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.