Hyperfine (NASDAQ:HYPR) Posts Quarterly Earnings Results, Misses Expectations By $0.04 EPS

Hyperfine (NASDAQ:HYPR) released its quarterly earnings data on Thursday. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.04), FiscalAI reports. Hyperfine had a negative return on equity of 84.82% and a negative net margin of 364.54%.The business had revenue of $3.44 million during the quarter, compared to analysts’ expectations of $3.51 million.

Hyperfine Stock Performance

Shares of HYPR traded down $0.05 during midday trading on Thursday, hitting $1.05. 590,731 shares of the stock were exchanged, compared to its average volume of 1,208,590. The firm has a market cap of $82.51 million, a P/E ratio of -2.02 and a beta of 1.08. The stock has a fifty day simple moving average of $1.39 and a 200 day simple moving average of $1.06. Hyperfine has a 52-week low of $0.53 and a 52-week high of $2.22.

Wall Street Analyst Weigh In

A number of brokerages recently commented on HYPR. Wells Fargo & Company boosted their price objective on shares of Hyperfine from $0.68 to $0.85 and gave the stock an “equal weight” rating in a research note on Friday, August 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Hyperfine in a report on Wednesday, October 8th. Lake Street Capital raised their price objective on shares of Hyperfine from $1.50 to $2.00 and gave the stock a “buy” rating in a research note on Thursday, August 14th. Finally, Wall Street Zen upgraded Hyperfine from a “sell” rating to a “hold” rating in a research report on Saturday, October 25th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $1.28.

Hedge Funds Weigh In On Hyperfine

An institutional investor recently raised its position in Hyperfine stock. Vanguard Group Inc. raised its stake in Hyperfine, Inc. (NASDAQ:HYPR) by 5.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,511,972 shares of the company’s stock after purchasing an additional 190,136 shares during the period. Vanguard Group Inc. owned about 4.47% of Hyperfine worth $5,092,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 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.