B. Riley Lowers Hyperfine (NASDAQ:HYPR) Price Target to $1.20

Hyperfine (NASDAQ:HYPR) had its price objective cut by stock analysts at B. Riley from $1.50 to $1.20 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. B. Riley’s price objective points to a potential upside of 46.34% from the company’s previous close.

Separately, Wells Fargo & Company lifted their price objective on Hyperfine from $1.10 to $1.29 and gave the stock an “equal weight” rating in a research report on Tuesday.

Hyperfine Trading Down 4.9 %

HYPR stock opened at $0.82 on Thursday. The firm has a 50 day moving average of $1.06 and a 200-day moving average of $1.00. Hyperfine has a 12-month low of $0.76 and a 12-month high of $1.90. The company has a market cap of $59.82 million, a price-to-earnings ratio of -1.44 and a beta of 0.94.

Hyperfine (NASDAQ:HYPR) last posted its quarterly earnings results on Monday, March 17th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.02. Hyperfine had a negative net margin of 309.42% and a negative return on equity of 57.54%. The company had revenue of $2.32 million during the quarter, compared to the consensus estimate of $2.30 million. During the same period last year, the firm earned ($0.15) EPS. Sell-side analysts forecast that Hyperfine will post -0.57 earnings per share for the current fiscal year.

Institutional Trading of Hyperfine

Several institutional investors have recently made changes to their positions in HYPR. Wealth Enhancement Advisory Services LLC increased its holdings 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 buying an additional 32,093 shares during the last quarter. Renaissance Technologies LLC grew its stake 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 acquiring an additional 52,500 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Hyperfine during the fourth quarter valued at about $25,000. Graypoint LLC acquired a new stake in shares of Hyperfine during the fourth quarter valued at about $44,000. Finally, Geode Capital Management LLC grew its stake in shares of Hyperfine by 18.7% during the third quarter. Geode Capital Management LLC now owns 624,520 shares of the company’s stock valued at $675,000 after acquiring an additional 98,335 shares in the last quarter. 15.03% of the stock is owned by hedge funds and other institutional investors.

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.