Hyperfine (NASDAQ:HYPR) Research Coverage Started at BTIG Research

BTIG Research initiated coverage on shares of Hyperfine (NASDAQ:HYPR) in a research note released on Wednesday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $2.00 price objective on the stock.

HYPR has been the subject of a number of other research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Hyperfine in a research note on Tuesday, April 21st. Lake Street Capital lifted their price target on shares of Hyperfine from $2.00 to $2.50 and gave the company a “buy” rating in a research report on Thursday, March 19th. Finally, Zacks Research upgraded shares of Hyperfine to a “hold” rating in a report on Thursday, March 19th. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $1.59.

Hyperfine Trading Up 12.7%

Shares of NASDAQ HYPR opened at $1.87 on Wednesday. The firm’s 50-day moving average price is $1.19 and its 200-day moving average price is $1.15. Hyperfine has a 1-year low of $0.53 and a 1-year high of $2.22. The firm has a market capitalization of $183.19 million, a P/E ratio of -4.25 and a beta of 1.41.

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

Insider Activity at Hyperfine

In related news, COO Thomas Teisseyre sold 24,188 shares of Hyperfine stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $1.21, for a total transaction of $29,267.48. Following the transaction, the chief operating officer owned 354,648 shares of the company’s stock, valued at $429,124.08. The trade was a 6.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Brett Hale sold 24,188 shares of the company’s 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 financial officer owned 275,812 shares of the company’s stock, valued at $333,732.52. This trade represents a 8.06% decrease in their position. The SEC filing for this sale provides additional information. 26.33% of the stock is owned by insiders.

Institutional Trading of Hyperfine

Several institutional investors and hedge funds have recently made changes to their positions in HYPR. Catalio Capital Management LP boosted its holdings in Hyperfine by 92.8% during the fourth quarter. Catalio Capital Management LP now owns 1,320,041 shares of the company’s stock worth $1,293,000 after purchasing an additional 635,500 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Hyperfine by 674.4% during the 4th quarter. Renaissance Technologies LLC now owns 364,743 shares of the company’s stock worth $357,000 after buying an additional 317,645 shares in the last quarter. Walleye Capital LLC purchased a new position in shares of Hyperfine in the 4th quarter worth approximately $212,000. Vanguard Group Inc. grew its holdings in shares of Hyperfine by 5.7% in the third quarter. Vanguard Group Inc. now owns 3,511,972 shares of the company’s stock valued at $5,092,000 after acquiring an additional 190,136 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Hyperfine by 21.4% in the fourth quarter. Geode Capital Management LLC now owns 815,986 shares of the company’s stock valued at $799,000 after acquiring an additional 143,975 shares in the last quarter. Hedge funds and other institutional investors own 15.03% of the company’s stock.

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.