Hyperfine (NASDAQ:HYPR) Now Covered by Lake Street Capital

Lake Street Capital initiated coverage on shares of Hyperfine (NASDAQ:HYPR) in a report issued on Monday,Benzinga reports. The brokerage issued a buy rating and a $1.50 price target on the stock.

Other analysts also recently issued reports about the company. B. Riley decreased their price objective on Hyperfine from $1.50 to $1.20 and set a “buy” rating for the company in a report on Thursday, March 20th. Wells Fargo & Company boosted their price target on shares of Hyperfine from $1.10 to $1.29 and gave the company an “equal weight” rating in a report on Tuesday, March 18th.

Hyperfine Price Performance

Shares of HYPR stock opened at $0.83 on Monday. The company has a market capitalization of $60.55 million, a P/E ratio of -1.46 and a beta of 0.94. The company’s 50-day simple moving average is $1.06 and its two-hundred day simple moving average is $1.00. Hyperfine has a one year low of $0.76 and a one year high of $1.90.

Hyperfine (NASDAQ:HYPR) last announced its quarterly earnings data on Monday, March 17th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.02. The company had revenue of $2.32 million for the quarter, compared to analysts’ expectations of $2.30 million. Hyperfine had a negative return on equity of 57.54% and a negative net margin of 309.42%. During the same quarter in the prior year, the firm earned ($0.15) earnings per share. On average, research analysts expect that Hyperfine will post -0.57 EPS for the current fiscal year.

Institutional Investors Weigh In On Hyperfine

Institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its holdings in shares of Hyperfine by 18.7% in the 3rd quarter. Geode Capital Management LLC now owns 624,520 shares of the company’s stock valued at $675,000 after buying an additional 98,335 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Hyperfine by 32.9% in the 4th quarter. Renaissance Technologies LLC now owns 212,300 shares of the company’s stock worth $187,000 after purchasing an additional 52,500 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Hyperfine by 64.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 82,008 shares of the company’s stock worth $72,000 after acquiring an additional 32,093 shares during the last quarter. Graypoint LLC purchased a new stake in Hyperfine during the 4th quarter worth approximately $44,000. Finally, Virtu Financial LLC purchased a new position in Hyperfine in the 4th quarter worth $25,000. 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.