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

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

A number of other research firms have also recently commented on HYPR. B. Riley cut their target price on Hyperfine from $1.50 to $1.20 and set a “buy” rating on the stock in a research note on Thursday, March 20th. Wells Fargo & Company boosted their price objective on Hyperfine from $1.10 to $1.29 and gave the company an “equal weight” rating in a report on Tuesday, March 18th.

Hyperfine Stock Down 3.3 %

NASDAQ HYPR opened at $0.80 on Monday. Hyperfine has a 52 week low of $0.76 and a 52 week high of $1.90. The firm has a market capitalization of $58.20 million, a price-to-earnings ratio of -1.40 and a beta of 0.94. The company has a fifty day moving average of $1.06 and a two-hundred day moving average of $1.00.

Hyperfine (NASDAQ:HYPR) last released its earnings results 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 firm had revenue of $2.32 million during the quarter, compared to analyst estimates of $2.30 million. Hyperfine had a negative net margin of 309.42% and a negative return on equity of 57.54%. During the same quarter last year, the business earned ($0.15) EPS. Equities research analysts anticipate that Hyperfine will post -0.57 EPS for the current year.

Institutional Investors Weigh In On Hyperfine

Several large investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its position 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 worth $675,000 after acquiring an additional 98,335 shares during the period. Renaissance Technologies LLC grew its stake in Hyperfine by 32.9% in the fourth 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 increased its holdings in 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 purchasing an additional 32,093 shares during the period. Graypoint LLC purchased a new stake in shares of Hyperfine in the 4th quarter worth $44,000. Finally, Virtu Financial LLC purchased a new stake in Hyperfine in the fourth quarter worth about $25,000. 15.03% of the stock is owned by hedge funds and other institutional investors.

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.