BTIG Research Reiterates “Buy” Rating for Hyperfine (NASDAQ:HYPR)

Hyperfine (NASDAQ:HYPR)‘s stock had its “buy” rating reaffirmed by stock analysts at BTIG Research in a report released on Tuesday, Benzinga reports. They currently have a $2.00 price target on the stock. BTIG Research’s price objective would suggest a potential upside of 151.29% from the stock’s previous close.

Several other analysts have also commented on HYPR. Weiss Ratings restated a “sell (d-)” rating on shares of Hyperfine in a report on Friday, July 17th. B. Riley Financial restated a “buy” rating and issued a $1.60 price objective (down from $2.00) on shares of Hyperfine in a report on Monday, August 10th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Hyperfine presently has a consensus rating of “Hold” and an average target price of $2.03.

Hyperfine Stock Up 0.7%

HYPR traded up $0.01 on Tuesday, hitting $0.80. The company had a trading volume of 184,727 shares, compared to its average volume of 683,876. The company has a debt-to-equity ratio of 0.36, a current ratio of 6.15 and a quick ratio of 5.45. Hyperfine has a 52-week low of $0.75 and a 52-week high of $2.22. The stock has a fifty day simple moving average of $0.88 and a 200-day simple moving average of $1.18. The firm has a market capitalization of $84.40 million, a P/E ratio of -2.09 and a beta of 1.41.

Hyperfine (NASDAQ:HYPR) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.09) EPS for the quarter, hitting the consensus estimate of ($0.09). Hyperfine had a negative net margin of 210.75% and a negative return on equity of 97.88%. The business had revenue of $3.90 million during the quarter, compared to analyst estimates of $4.14 million. As a group, equities analysts expect that Hyperfine will post -0.34 EPS for the current fiscal year.

Institutional Investors Weigh In On Hyperfine

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp purchased a new stake in Hyperfine in the second quarter worth about $419,000. Renaissance Technologies LLC grew its holdings in Hyperfine by 100.2% in the first quarter. Renaissance Technologies LLC now owns 730,233 shares of the company’s stock worth $789,000 after purchasing an additional 365,490 shares during the period. Walleye Capital LLC grew its holdings in Hyperfine by 3.4% in the first quarter. Walleye Capital LLC now owns 223,988 shares of the company’s stock worth $242,000 after purchasing an additional 7,330 shares during the period. Finally, Catalio Capital Management LP grew its holdings in Hyperfine by 92.8% in 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 period. Hedge funds and other institutional investors own 15.03% of the company’s stock.

About Hyperfine

Hyperfine, Inc is a medical technology company that develops portable magnetic resonance imaging (MRI) systems for use at the point of care. Its flagship product, the Swoop Portable MR Imaging System, is designed to bring brain imaging directly to patients in settings such as intensive care units, emergency departments, hospitals and other clinical environments.

The Swoop system is intended to support rapid assessment of neurological conditions, including stroke, brain injury and other disorders.