Hyperfine’s (HYPR) “Buy” Rating Reiterated at B. Riley Financial

B. Riley Financial reaffirmed their buy rating on shares of Hyperfine (NASDAQ:HYPR) in a report published on Monday,Benzinga reports. They currently have a $1.60 price target on the stock, down from their previous price target of $2.00.

Several other analysts have also issued reports on the stock. BTIG Research started coverage on shares of Hyperfine in a research note on Wednesday, April 29th. They issued a “buy” rating and a $2.00 target price for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Hyperfine in a report on Friday, July 17th. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $1.74.

Hyperfine Stock Down 6.7%

Shares of HYPR opened at $0.90 on Monday. The stock has a fifty day moving average of $1.19 and a 200-day moving average of $1.25. Hyperfine has a 52 week low of $0.85 and a 52 week high of $2.22. The stock has a market capitalization of $89.40 million, a price-to-earnings ratio of -2.37 and a beta of 1.42. The company has a debt-to-equity ratio of 0.38, a quick ratio of 4.90 and a current ratio of 5.52.

Hyperfine (NASDAQ:HYPR) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.09). Hyperfine had a negative net margin of 210.75% and a negative return on equity of 99.81%. The firm had revenue of $3.90 million for the quarter, compared to the consensus estimate of $4.13 million. As a group, sell-side analysts anticipate that Hyperfine will post -0.34 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Hyperfine

Institutional investors and hedge funds have recently bought and sold shares of the stock. EP Wealth Advisors LLC bought a new stake in Hyperfine in the 4th quarter worth approximately $34,000. Sanctuary Advisors LLC grew its position in Hyperfine by 130.9% during the fourth quarter. Sanctuary Advisors LLC now owns 39,938 shares of the company’s stock valued at $39,000 after acquiring an additional 22,638 shares during the last quarter. Millennium Management LLC purchased a new position in shares of Hyperfine during the fourth quarter worth approximately $55,000. Cerity Partners LLC purchased a new position in shares of Hyperfine during the fourth quarter worth approximately $59,000. Finally, Tortoise Investment Management LLC lifted its holdings in shares of Hyperfine by 60.0% in the 4th quarter. Tortoise Investment Management LLC now owns 72,000 shares of the company’s stock worth $71,000 after acquiring an additional 27,000 shares during the last quarter. 15.03% of the stock is owned by hedge funds and other institutional investors.

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.