Hyperfine (NASDAQ:HYPR) Stock Rating Reaffirmed as “Buy” by BTIG Research

Hyperfine (NASDAQ:HYPR)‘s stock had its “buy” rating reaffirmed by equities research analysts at BTIG Research in a report released on Tuesday, Benzinga reports. They presently have a $2.00 target price on the stock. BTIG Research’s price target would indicate a potential upside of 139.26% from the company’s previous close.

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

Hyperfine Stock Up 2.8%

Hyperfine stock traded up $0.02 during midday trading on Tuesday, reaching $0.84. The stock had a trading volume of 613,304 shares, compared to its average volume of 386,079. Hyperfine has a twelve month low of $0.75 and a twelve month high of $2.22. The company has a debt-to-equity ratio of 0.36, a current ratio of 6.15 and a quick ratio of 5.45. The stock’s 50-day simple moving average is $0.88 and its 200 day simple moving average is $1.18.

Hyperfine (NASDAQ:HYPR) last issued its earnings results on Thursday, August 6th. The company reported ($0.09) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.09). Hyperfine had a negative return on equity of 97.88% and a negative net margin of 210.75%.The firm had revenue of $3.90 million for the quarter, compared to analysts’ expectations of $4.14 million. Analysts forecast that Hyperfine will post -0.34 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of HYPR. Walleye Capital LLC lifted its stake in shares of Hyperfine by 3.4% during 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 in the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Hyperfine during the second quarter worth about $419,000. Renaissance Technologies LLC lifted its stake in shares of Hyperfine by 100.2% during 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 in the last quarter. Finally, Catalio Capital Management LP lifted its stake in shares of Hyperfine by 92.8% during 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 in the last quarter. Institutional investors and hedge funds own 15.03% of the company’s stock.

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.