Hyperfine (NASDAQ:HYPR) Announces Quarterly Earnings Results

Hyperfine (NASDAQ:HYPR) released its quarterly earnings results on Wednesday. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.03, reports. Hyperfine had a negative return on equity of 97.95% and a negative net margin of 378.17%.The firm had revenue of $5.29 million for the quarter, compared to the consensus estimate of $5.30 million.

Hyperfine Stock Down 2.3%

Shares of NASDAQ:HYPR traded down $0.03 during trading on Wednesday, reaching $1.27. 1,275,448 shares of the company traded hands, compared to its average volume of 477,691. The company’s 50 day moving average is $1.14 and its two-hundred day moving average is $1.20. Hyperfine has a 52 week low of $0.53 and a 52 week high of $2.22. The firm has a market capitalization of $123.41 million, a PE ratio of -2.44 and a beta of 1.09.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Hyperfine in a report on Thursday, January 22nd. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $1.28.

Institutional Investors Weigh In On Hyperfine

Hedge funds have recently modified their holdings of the company. EP Wealth Advisors LLC acquired a new position in shares of Hyperfine in the 4th quarter worth approximately $34,000. Millennium Management LLC acquired a new stake in Hyperfine in the 4th quarter valued at $55,000. Cerity Partners LLC bought a new position in shares of Hyperfine in the fourth quarter valued at approximately $59,000. XTX Topco Ltd raised its holdings in shares of Hyperfine by 47.9% in the fourth quarter. XTX Topco Ltd now owns 80,735 shares of the company’s stock valued at $79,000 after purchasing an additional 26,165 shares during the last quarter. Finally, Bridgeway Capital Management LLC boosted its stake in shares of Hyperfine by 50.2% in the 4th quarter. Bridgeway Capital Management LLC now owns 119,700 shares of the company’s stock worth $117,000 after buying an additional 40,000 shares during the last quarter. Institutional investors and hedge funds own 15.03% of the company’s stock.

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.