B. Riley Issues Pessimistic Forecast for Hyperfine (NASDAQ:HYPR) Stock Price

Hyperfine (NASDAQ:HYPR) had its target price lowered by stock analysts at B. Riley from $1.50 to $1.20 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. B. Riley’s price target indicates a potential upside of 46.34% from the stock’s previous close.

Separately, Wells Fargo & Company raised their price target on Hyperfine from $1.10 to $1.29 and gave the company an “equal weight” rating in a research note on Tuesday.

Hyperfine Price Performance

Hyperfine stock opened at $0.82 on Thursday. Hyperfine has a 1-year low of $0.76 and a 1-year high of $1.90. The stock has a market cap of $59.82 million, a PE ratio of -1.44 and a beta of 0.94. The stock’s fifty day moving average is $1.06 and its two-hundred day moving average is $1.00.

Hyperfine (NASDAQ:HYPR) last posted its quarterly earnings results on Monday, March 17th. The company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.02. Hyperfine had a negative return on equity of 57.54% and a negative net margin of 309.42%. The company had revenue of $2.32 million for the quarter, compared to analysts’ expectations of $2.30 million. During the same period last year, the firm earned ($0.15) earnings per share. On average, research analysts expect that Hyperfine will post -0.57 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Hyperfine

Several hedge funds have recently made changes to their positions in HYPR. Virtu Financial LLC purchased a new position in shares of Hyperfine during the fourth quarter worth about $25,000. Graypoint LLC purchased a new position in shares of Hyperfine during the fourth quarter worth about $44,000. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Hyperfine by 64.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 82,008 shares of the company’s stock worth $72,000 after purchasing an additional 32,093 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Hyperfine by 32.9% during the fourth quarter. Renaissance Technologies LLC now owns 212,300 shares of the company’s stock worth $187,000 after purchasing an additional 52,500 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Hyperfine by 18.7% during the third quarter. Geode Capital Management LLC now owns 624,520 shares of the company’s stock worth $675,000 after purchasing an additional 98,335 shares during the last quarter. Hedge funds and other institutional investors own 15.03% of the company’s stock.

About Hyperfine

Hyperfine, Inc, a medical device company, provides magnetic resonance imaging (MRI) products in the United States. The company offers Swoop Portable MR imaging system, which offers portable brain neuroimaging; and support and technical assistance services. It serves ICU, comprehensive, and primary stroke accredited facilities through direct sales and distributors.