Hyperfine, Inc. (NASDAQ:HYPR) Sees Large Increase in Short Interest

Hyperfine, Inc. (NASDAQ:HYPR) was the recipient of a significant growth in short interest during the month of February. As of February 15th, there was short interest totalling 2,140,000 shares, a growth of 59.7% from the January 31st total of 1,340,000 shares. Currently, 3.8% of the company’s stock are sold short. Based on an average trading volume of 301,800 shares, the days-to-cover ratio is presently 7.1 days.

Hyperfine Stock Performance

HYPR opened at $0.97 on Friday. The business has a 50 day moving average price of $1.06 and a 200 day moving average price of $1.02. Hyperfine has a twelve month low of $0.76 and a twelve month high of $1.90. The firm has a market cap of $70.76 million, a P/E ratio of -1.70 and a beta of 0.92.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Geode Capital Management LLC raised its holdings in 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 acquiring an additional 98,335 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Hyperfine by 32.9% in the fourth quarter. Renaissance Technologies LLC now owns 212,300 shares of the company’s stock valued at $187,000 after purchasing an additional 52,500 shares in the last quarter. Graypoint LLC acquired a new position in shares of Hyperfine in the 4th quarter valued at $44,000. Finally, Virtu Financial LLC acquired a new position in shares of Hyperfine in the 4th quarter valued at $25,000. 15.03% of the stock is currently owned by institutional investors and hedge funds.

Hyperfine Company Profile

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.