Hyperfine, Inc. (NASDAQ:HYPR) Receives $1.78 Average PT from Brokerages

Shares of Hyperfine, Inc. (NASDAQ:HYPR) have received an average rating of “Hold” from the six analysts that are presently covering the company, MarketBeat reports. One investment 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 1-year target price among brokerages that have issued a report on the stock in the last year is $1.7833.

Several equities research analysts recently issued reports on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Hyperfine in a report on Tuesday, April 21st. Zacks Research upgraded shares of Hyperfine to a “hold” rating in a report on Thursday, March 19th. B. Riley Financial restated a “buy” rating on shares of Hyperfine in a report on Wednesday, May 13th. BTIG Research assumed coverage on shares of Hyperfine in a report on Wednesday, April 29th. They issued a “buy” rating and a $2.00 target price on the stock. Finally, Lake Street Capital raised their target price on shares of Hyperfine from $2.00 to $2.50 and gave the stock a “buy” rating in a report on Thursday, March 19th.

Insider Activity at Hyperfine

In other Hyperfine news, COO Thomas Teisseyre sold 24,188 shares of the stock in a transaction that occurred 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 transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Brett Hale sold 24,188 shares of the 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 completion of the transaction, the chief financial officer owned 275,812 shares in the company, valued at $333,732.52. The trade was a 8.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 60,470 shares of company stock worth $78,490 in the last 90 days. 26.33% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in HYPR. Vanguard Group Inc. raised its position in Hyperfine by 5.7% in the third quarter. Vanguard Group Inc. now owns 3,511,972 shares of the company’s stock worth $5,092,000 after acquiring an additional 190,136 shares during the period. Tortoise Investment Management LLC bought a new position in Hyperfine in the third quarter worth approximately $65,000. Kathmere Capital Management LLC bought a new position in Hyperfine in the fourth quarter worth approximately $51,000. Sanctuary Advisors LLC raised its position in Hyperfine by 130.9% in the fourth quarter. Sanctuary Advisors LLC now owns 39,938 shares of the company’s stock worth $39,000 after acquiring an additional 22,638 shares during the period. Finally, Geode Capital Management LLC raised its position in Hyperfine by 21.4% in the fourth quarter. Geode Capital Management LLC now owns 815,986 shares of the company’s stock worth $799,000 after acquiring an additional 143,975 shares during the period. 15.03% of the stock is currently owned by institutional investors.

Hyperfine Trading Up 2.2%

NASDAQ:HYPR opened at $1.41 on Thursday. The company’s 50 day moving average price is $1.40 and its 200-day moving average price is $1.20. Hyperfine has a 52 week low of $0.66 and a 52 week high of $2.22. The company has a quick ratio of 4.90, a current ratio of 5.52 and a debt-to-equity ratio of 0.38. The stock has a market cap of $139.97 million, a price-to-earnings ratio of -3.44 and a beta of 1.38.

Hyperfine (NASDAQ:HYPR) last posted its quarterly earnings results on Tuesday, May 12th. The company reported ($0.09) EPS for the quarter, meeting analysts’ consensus estimates 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 analysts’ expectations of $3.54 million. On average, equities research 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.