Hyperfine (NASDAQ:HYPR) Stock Price Up 8.2% – Should You Buy?

Hyperfine, Inc. (NASDAQ:HYPR) was up 8.2% during trading on Friday . The stock traded as high as $1.10 and last traded at $1.06. Approximately 328,884 shares changed hands during mid-day trading, an increase of 6% from the average daily volume of 310,742 shares. The stock had previously closed at $0.98.

Hyperfine Stock Performance

The company has a 50 day moving average of $0.94 and a 200 day moving average of $1.00. The stock has a market capitalization of $77.33 million, a price-to-earnings ratio of -1.86 and a beta of 0.86.

Hyperfine (NASDAQ:HYPR) last issued its earnings results on Tuesday, November 12th. The company reported ($0.14) EPS for the quarter, meeting analysts’ consensus estimates of ($0.14). The business had revenue of $3.64 million during the quarter, compared to analysts’ expectations of $3.40 million. Hyperfine had a negative net margin of 309.42% and a negative return on equity of 57.54%. During the same period in the prior year, the business earned ($0.15) earnings per share. On average, equities analysts predict that Hyperfine, Inc. will post -0.57 EPS for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Hyperfine stock. Geode Capital Management LLC increased its stake in shares of Hyperfine, Inc. (NASDAQ:HYPR) by 18.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 624,520 shares of the company’s stock after buying an additional 98,335 shares during the quarter. Geode Capital Management LLC owned about 0.86% of Hyperfine worth $675,000 at the end of the most recent reporting period. Institutional investors and hedge funds 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.