Hyperfine (NASDAQ:HYPR) Coverage Initiated by Analysts at Lake Street Capital

Lake Street Capital initiated coverage on shares of Hyperfine (NASDAQ:HYPR) in a report released on Monday morning,Benzinga reports. The brokerage issued a buy rating and a $1.50 price objective on the stock.

HYPR has been the topic of a number of other reports. B. Riley reduced their target price on shares of Hyperfine from $1.50 to $1.20 and set a “buy” rating on the stock in a report on Thursday, March 20th. Wells Fargo & Company boosted their price objective on Hyperfine from $1.10 to $1.29 and gave the stock an “equal weight” rating in a research note on Tuesday, March 18th.

Hyperfine Trading Up 1.2 %

NASDAQ:HYPR opened at $0.83 on Monday. The company has a market capitalization of $60.55 million, a P/E ratio of -1.46 and a beta of 0.94. The business’s 50-day moving average is $1.06 and its 200 day moving average is $1.00. Hyperfine has a 12 month low of $0.76 and a 12 month high of $1.90.

Hyperfine (NASDAQ:HYPR) last issued its quarterly earnings data on Monday, March 17th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $2.32 million for the quarter, compared to analysts’ expectations of $2.30 million. During the same period in the prior year, the firm earned ($0.15) EPS. On average, research analysts forecast that Hyperfine will post -0.57 earnings per share for the current year.

Institutional Investors Weigh In On Hyperfine

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Hyperfine by 64.3% during the 4th 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 period. Renaissance Technologies LLC boosted its position in shares of Hyperfine by 32.9% during the fourth quarter. Renaissance Technologies LLC now owns 212,300 shares of the company’s stock valued at $187,000 after buying an additional 52,500 shares during the period. Virtu Financial LLC bought a new position in shares of Hyperfine during the fourth quarter valued at approximately $25,000. Graypoint LLC purchased a new stake in shares of Hyperfine in the fourth quarter worth approximately $44,000. Finally, Geode Capital Management LLC lifted its stake in shares of Hyperfine by 18.7% during the 3rd quarter. Geode Capital Management LLC now owns 624,520 shares of the company’s stock worth $675,000 after acquiring 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.