Hyperfine (NASDAQ:HYPR) Earns Buy Rating from Analysts at Lake Street Capital

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

HYPR has been the topic of a number of other research reports. Wells Fargo & Company lifted their target price on shares of Hyperfine from $1.10 to $1.29 and gave the company an “equal weight” rating in a research note on Tuesday, March 18th. B. Riley decreased their price target on Hyperfine from $1.50 to $1.20 and set a “buy” rating on the stock in a report on Thursday, March 20th.

Hyperfine Stock Performance

NASDAQ HYPR opened at $0.80 on Monday. The business’s fifty day moving average is $1.06 and its 200 day moving average is $1.00. Hyperfine has a fifty-two week low of $0.76 and a fifty-two week high of $1.90. The company has a market capitalization of $58.20 million, a PE ratio of -1.40 and a beta of 0.94.

Hyperfine (NASDAQ:HYPR) last posted its quarterly earnings data on Monday, March 17th. The company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.02. The firm 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 period in the previous year, the firm earned ($0.15) EPS. On average, sell-side analysts forecast that Hyperfine will post -0.57 EPS for the current year.

Hedge Funds Weigh In On Hyperfine

Hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC grew its holdings in shares of Hyperfine by 18.7% in the third quarter. Geode Capital Management LLC now owns 624,520 shares of the company’s stock valued at $675,000 after purchasing an additional 98,335 shares in the last quarter. Graypoint LLC purchased a new position in shares of Hyperfine in the 4th quarter worth $44,000. Virtu Financial LLC bought a new stake in shares of Hyperfine in the 4th quarter worth about $25,000. Renaissance Technologies LLC increased its holdings 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 buying an additional 52,500 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its position 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 valued at $72,000 after buying an additional 32,093 shares in the last quarter. Institutional investors own 15.03% of the company’s stock.

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.