Hyperfine (NASDAQ:HYPR) Trading 4.9% Higher

Hyperfine, Inc. (NASDAQ:HYPR)’s share price traded up 4.9% during mid-day trading on Thursday . The company traded as high as $1.05 and last traded at $1.01. 304,065 shares were traded during mid-day trading, an increase of 156% from the average session volume of 118,842 shares. The stock had previously closed at $0.96.

Analysts Set New Price Targets

Separately, Wells Fargo & Company reduced their price objective on shares of Hyperfine from $2.10 to $1.60 and set an “equal weight” rating for the company in a research note on Friday, March 22nd.

Hyperfine Stock Performance

The stock has a fifty day simple moving average of $0.86 and a 200 day simple moving average of $0.98. The firm has a market cap of $72.81 million, a P/E ratio of -1.72 and a beta of 0.84.

Hyperfine (NASDAQ:HYPR) last released its quarterly earnings data on Monday, May 13th. The company reported ($0.14) EPS for the quarter, hitting the consensus estimate of ($0.14). Hyperfine had a negative return on equity of 46.96% and a negative net margin of 358.59%. The company had revenue of $3.30 million during the quarter, compared to the consensus estimate of $3.03 million. Research analysts predict that Hyperfine, Inc. will post -0.53 earnings per share for the current year.

Hedge Funds Weigh In On Hyperfine

Institutional investors and hedge funds have recently made changes to their positions in the business. Citigroup Inc. purchased a new stake in Hyperfine in the third quarter worth about $29,000. EP Wealth Advisors LLC purchased a new stake in Hyperfine in the 3rd quarter worth approximately $71,000. Finally, Journey Strategic Wealth LLC purchased a new position in Hyperfine during the fourth quarter valued at approximately $84,000. 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.