Hyperfine, Inc. (NASDAQ:HYPR) Short Interest Up 29.5% in December

Hyperfine, Inc. (NASDAQ:HYPR) was the recipient of a large increase in short interest in the month of December. As of December 31st, there was short interest totaling 854,005 shares, an increase of 29.5% from the December 15th total of 659,270 shares. Approximately 1.3% of the shares of the company are sold short. Based on an average trading volume of 687,679 shares, the days-to-cover ratio is currently 1.2 days. Based on an average trading volume of 687,679 shares, the days-to-cover ratio is currently 1.2 days. Approximately 1.3% of the shares of the company are sold short.

Hyperfine Trading Down 1.6%

Hyperfine stock traded down $0.02 during trading hours on Friday, reaching $1.20. 435,180 shares of the stock were exchanged, compared to its average volume of 536,989. Hyperfine has a twelve month low of $0.53 and a twelve month high of $2.22. The company has a market cap of $116.60 million, a P/E ratio of -2.31 and a beta of 1.09. The stock has a 50 day moving average of $1.04 and a two-hundred day moving average of $1.18.

Hyperfine (NASDAQ:HYPR) last posted its quarterly earnings results on Thursday, November 13th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01). The business had revenue of $3.44 million for the quarter, compared to analyst estimates of $3.51 million. Hyperfine had a negative return on equity of 97.95% and a negative net margin of 378.17%. On average, analysts expect that Hyperfine will post -0.57 earnings per share for the current fiscal year.

Institutional Trading of Hyperfine

Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in shares of Hyperfine by 5.7% during the 3rd 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 during the period. Kathmere Capital Management LLC acquired a new position in shares of Hyperfine during the fourth quarter valued at about $51,000. Finally, Tortoise Investment Management LLC bought a new position in shares of Hyperfine during the 3rd quarter worth about $65,000. 15.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

HYPR has been the subject of several research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Hyperfine in a report on Wednesday, October 8th. Wall Street Zen raised shares of Hyperfine from a “sell” rating to a “hold” rating in a research report on Saturday, October 25th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $1.28.

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.