Hyperfine (NASDAQ:HYPR) Upgraded by Zacks Research to Hold Rating

Zacks Research upgraded shares of Hyperfine (NASDAQ:HYPR) to a hold rating in a research note released on Thursday,Zacks.com reports.

Several other analysts also recently issued reports on the stock. Lake Street Capital increased their price objective on shares of Hyperfine from $2.00 to $2.50 and gave the company a “buy” rating in a research report on Thursday. Weiss Ratings restated a “sell (d-)” rating on shares of Hyperfine in a research note on Thursday, January 22nd. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Hyperfine has a consensus rating of “Hold” and a consensus target price of $1.45.

Hyperfine Price Performance

NASDAQ:HYPR opened at $1.24 on Thursday. The business’s 50-day moving average is $1.15 and its two-hundred day moving average is $1.20. The firm has a market capitalization of $120.49 million, a PE ratio of -2.82 and a beta of 1.09. Hyperfine has a 12 month low of $0.53 and a 12 month high of $2.22.

Hyperfine (NASDAQ:HYPR) last posted its earnings results on Wednesday, March 18th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.02. The business had revenue of $5.29 million during the quarter, compared to analyst estimates of $5.30 million. Hyperfine had a negative return on equity of 95.09% and a negative net margin of 262.29%. Equities analysts anticipate that Hyperfine will post -0.57 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Millennium Management LLC bought a new stake in Hyperfine in the fourth quarter valued at about $55,000. Bridgeway Capital Management LLC increased its holdings in shares of Hyperfine by 50.2% in the 4th quarter. Bridgeway Capital Management LLC now owns 119,700 shares of the company’s stock valued at $117,000 after acquiring an additional 40,000 shares during the last quarter. Walleye Capital LLC acquired a new stake in shares of Hyperfine during the 4th quarter valued at approximately $212,000. State Street Corp lifted its stake in Hyperfine by 6.1% during the fourth quarter. State Street Corp now owns 265,195 shares of the company’s stock worth $260,000 after purchasing an additional 15,200 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in Hyperfine by 674.4% in the fourth quarter. Renaissance Technologies LLC now owns 364,743 shares of the company’s stock worth $357,000 after purchasing an additional 317,645 shares during the period. 15.03% of the stock is currently owned by institutional investors.

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.