BTIG Research Reaffirms Buy Rating for Hyperfine (NASDAQ:HYPR)

Hyperfine (NASDAQ:HYPR)‘s stock had its “buy” rating reiterated by BTIG Research in a research note issued on Tuesday, Benzinga reports. They presently have a $2.00 price target on the stock. BTIG Research’s target price would indicate a potential upside of 151.29% from the company’s previous close.

Several other analysts also recently weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Hyperfine in a research note on Friday, July 17th. B. Riley Financial reiterated 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 research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Hyperfine has an average rating of “Hold” and an average price target of $2.03.

Hyperfine Price Performance

NASDAQ HYPR traded up $0.01 on Tuesday, reaching $0.80. 184,727 shares of the company’s stock traded hands, compared to its average volume of 683,876. The stock has a market cap of $84.40 million, a PE ratio of -2.09 and a beta of 1.41. Hyperfine has a 12 month low of $0.75 and a 12 month high of $2.22. The stock has a 50-day simple moving average of $0.88 and a 200 day simple moving average of $1.18. 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 (NASDAQ:HYPR) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.09). Hyperfine had a negative net margin of 210.75% and a negative return on equity of 97.88%. The company had revenue of $3.90 million during the quarter, compared to analysts’ expectations of $4.14 million. As a group, research analysts predict that Hyperfine will post -0.34 earnings per share for the current year.

Institutional Trading of Hyperfine

Several large investors have recently modified their holdings of the business. Catalio Capital Management LP increased its holdings in Hyperfine by 92.8% during the 4th quarter. Catalio Capital Management LP now owns 1,320,041 shares of the company’s stock valued at $1,293,000 after purchasing an additional 635,500 shares during the period. Renaissance Technologies LLC lifted its holdings in Hyperfine by 100.2% in the 1st quarter. Renaissance Technologies LLC now owns 730,233 shares of the company’s stock worth $789,000 after buying an additional 365,490 shares during the period. Bank of New York Mellon Corp bought a new stake in shares of Hyperfine in the 2nd quarter worth approximately $419,000. Finally, Walleye Capital LLC boosted its holdings in Hyperfine by 3.4% in the first quarter. Walleye Capital LLC now owns 223,988 shares of the company’s stock valued at $242,000 after acquiring an additional 7,330 shares in the last quarter. 15.03% of the stock is owned by institutional investors.

Hyperfine Company Profile

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.