Hyperfine, Inc. (NASDAQ:HYPR – Get Free Report) saw a significant growth in short interest in June. As of June 30th, there was short interest totaling 3,358,029 shares, a growth of 98.1% from the June 15th total of 1,694,898 shares. Based on an average daily volume of 2,548,164 shares, the short-interest ratio is presently 1.3 days. Approximately 4.6% of the shares of the stock are sold short.
Analyst Upgrades and Downgrades
A number of brokerages have recently weighed in on HYPR. Zacks Research raised shares of Hyperfine to a “hold” rating in a research note on Thursday, March 19th. BTIG Research initiated coverage on Hyperfine in a research note on Wednesday, April 29th. They issued a “buy” rating and a $2.00 target price on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Hyperfine in a report on Tuesday, April 21st. Lake Street Capital increased their target price on Hyperfine from $2.00 to $2.50 and gave the company a “buy” rating in a report on Thursday, March 19th. Finally, B. Riley Financial reissued a “buy” rating on shares of Hyperfine in a research report on Wednesday, May 13th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $1.78.
Read Our Latest Research Report on Hyperfine
Hyperfine Trading Down 5.2%
Hyperfine (NASDAQ:HYPR – Get Free Report) last issued its quarterly earnings results on Tuesday, May 12th. The company reported ($0.09) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.09). Hyperfine had a negative return on equity of 98.83% and a negative net margin of 226.88%.The company had revenue of $3.90 million for the quarter, compared to analyst estimates of $3.54 million. On average, equities research analysts predict that Hyperfine will post -0.34 earnings per share for the current fiscal year.
Institutional Trading of Hyperfine
A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Hyperfine by 5.7% in the 3rd quarter. Vanguard Group Inc. now owns 3,511,972 shares of the company’s stock valued at $5,092,000 after buying an additional 190,136 shares during the period. Kathmere Capital Management LLC purchased a new position in shares of Hyperfine during the 4th quarter worth about $51,000. Sanctuary Advisors LLC boosted its position in shares of Hyperfine by 130.9% in the fourth quarter. Sanctuary Advisors LLC now owns 39,938 shares of the company’s stock worth $39,000 after acquiring an additional 22,638 shares during the last quarter. Tortoise Investment Management LLC grew its holdings in Hyperfine by 60.0% in the fourth quarter. Tortoise Investment Management LLC now owns 72,000 shares of the company’s stock valued at $71,000 after purchasing an additional 27,000 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Hyperfine by 21.4% in the fourth quarter. Geode Capital Management LLC now owns 815,986 shares of the company’s stock valued at $799,000 after purchasing an additional 143,975 shares during the period. 15.03% of the stock is owned by institutional investors and hedge funds.
About Hyperfine
Hyperfine, Inc (NASDAQ: HYPR) is a medical technology company focused on expanding access to advanced neuroimaging through its portable magnetic resonance imaging (MRI) system. The company’s flagship product, Swoop®, is designed to enable bedside MRI scanning in a wide range of clinical environments, including emergency departments, intensive care units and outpatient clinics. By leveraging a compact, high-performance permanent magnet and a custom-designed gradient system, Hyperfine aims to reduce the logistical and financial barriers associated with traditional, large-scale MRI installations.
The Swoop system features a lightweight, wheeled design that can be maneuvered directly to a patient’s bedside, allowing clinicians to conduct diagnostic imaging without the need to transport critically ill or immobile patients.
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