Short Interest in Hyperfine, Inc. (NASDAQ:HYPR) Decreases By 15.3%

Hyperfine, Inc. (NASDAQ:HYPR) was the target of a significant drop in short interest in April. As of April 15th, there was short interest totaling 1,145,426 shares, a drop of 15.3% from the March 31st total of 1,351,638 shares. Approximately 1.7% of the company’s stock are sold short. Based on an average trading volume of 292,116 shares, the short-interest ratio is presently 3.9 days.

Insider Buying and Selling at Hyperfine

In other news, COO Thomas Teisseyre sold 24,188 shares of the stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $1.21, for a total value of $29,267.48. Following the sale, the chief operating officer directly owned 354,648 shares in the company, valued at approximately $429,124.08. This trade represents a 6.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brett Hale sold 24,188 shares of the stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $1.21, for a total value of $29,267.48. Following the completion of the sale, the chief financial officer owned 275,812 shares in the company, valued at approximately $333,732.52. The trade was a 8.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 26.33% of the stock is currently owned by company insiders.

Institutional Trading of Hyperfine

Hedge funds and other institutional investors have recently bought and sold shares of the business. EP Wealth Advisors LLC acquired a new stake in Hyperfine in the fourth quarter valued at $34,000. Sanctuary Advisors LLC grew its holdings in shares of Hyperfine by 130.9% during the fourth quarter. Sanctuary Advisors LLC now owns 39,938 shares of the company’s stock worth $39,000 after purchasing an additional 22,638 shares during the last quarter. Kathmere Capital Management LLC purchased a new position in shares of Hyperfine during the fourth quarter worth about $51,000. Millennium Management LLC purchased a new position in shares of Hyperfine during the fourth quarter worth about $55,000. Finally, Cerity Partners LLC purchased a new position in shares of Hyperfine during the fourth quarter worth about $59,000. 15.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently issued reports on HYPR shares. Zacks Research upgraded Hyperfine to a “hold” rating in a research note on Thursday, March 19th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Hyperfine in a research note on Tuesday, April 21st. Lake Street Capital increased their price objective on Hyperfine from $2.00 to $2.50 and gave the company a “buy” rating in a research note on Thursday, March 19th. Finally, BTIG Research started coverage on Hyperfine in a research note on Wednesday. They issued a “buy” rating and a $2.00 price objective on the stock. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Hyperfine currently has a consensus rating of “Hold” and an average price target of $1.59.

Hyperfine Price Performance

Hyperfine stock opened at $1.87 on Friday. Hyperfine has a 1-year low of $0.53 and a 1-year high of $2.22. The stock has a market cap of $183.19 million, a PE ratio of -4.25 and a beta of 1.41. The stock’s fifty day moving average is $1.19 and its two-hundred day moving average is $1.15.

Hyperfine (NASDAQ:HYPR) last posted its quarterly earnings results on Wednesday, March 18th. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.02. Hyperfine had a negative return on equity of 95.09% and a negative net margin of 262.29%.The company had revenue of $5.29 million for the quarter, compared to analysts’ expectations of $5.30 million. On average, research analysts expect that Hyperfine will post -0.34 earnings per share for the current fiscal year.

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.