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

Hyperfine, Inc. (NASDAQ:HYPR – Get Rating) was the recipient of a significant drop in short interest in the month of December. As of December 30th, there was short interest totalling 2,660,000 shares, a drop of 10.1% from the December 15th total of 2,960,000 shares. Approximately 5.5% of the shares of the stock are sold short. Based on an average daily volume of 278,500 shares, the short-interest ratio is presently 9.6 days.

Analyst Ratings Changes

Separately, B. Riley initiated coverage on shares of Hyperfine in a research report on Tuesday, October 4th. They issued a “buy” rating and a $3.50 price objective for the company.

Hyperfine Price Performance

NASDAQ:HYPR opened at $0.95 on Tuesday. The firm has a 50 day simple moving average of $0.84 and a 200-day simple moving average of $1.11. The firm has a market cap of $67.05 million, a PE ratio of -0.26 and a beta of 0.47. Hyperfine has a 1-year low of $0.68 and a 1-year high of $5.10.

Hyperfine (NASDAQ:HYPR – Get Rating) last posted its quarterly earnings data on Thursday, November 10th. The company reported ($0.19) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.07. The business had revenue of $2.35 million during the quarter, compared to analyst estimates of $1.60 million. Hyperfine had a negative net margin of 1,479.40% and a negative return on equity of 54.01%. As a group, sell-side analysts expect that Hyperfine will post -1.1 earnings per share for the current fiscal year.

Insider Activity at Hyperfine

In other Hyperfine news, CMO Khan Siddiqui sold 1,039 shares of Hyperfine stock in a transaction dated Wednesday, November 16th. The shares were sold at an average price of $84.00, for a total transaction of $87,276.00. Following the completion of the transaction, the chief marketing officer now owns 85,080 shares in the company, valued at $7,146,720. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Hyperfine news, Director Jonathan M. Rothberg bought 34,488 shares of the business’s stock in a transaction on Monday, November 14th. The stock was bought at an average price of $0.89 per share, for a total transaction of $30,694.32. Following the completion of the transaction, the director now owns 578,346 shares in the company, valued at approximately $514,727.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Khan Siddiqui sold 1,039 shares of Hyperfine stock in a transaction dated Wednesday, November 16th. The stock was sold at an average price of $84.00, for a total transaction of $87,276.00. Following the transaction, the chief marketing officer now owns 85,080 shares of the company’s stock, valued at approximately $7,146,720. The disclosure for this sale can be found here. Over the last 90 days, insiders purchased 86,495 shares of company stock worth $69,289 and sold 5,161 shares worth $90,738. Company insiders own 26.11% of the company’s stock.

Institutional Investors Weigh In On Hyperfine

A number of institutional investors have recently bought and sold shares of HYPR. EP Wealth Advisors LLC purchased a new stake in Hyperfine in the third quarter valued at approximately $28,000. Mayflower Financial Advisors LLC purchased a new stake in Hyperfine during the third quarter worth approximately $39,000. Millennium Management LLC acquired a new position in shares of Hyperfine during the second quarter worth $41,000. Goldman Sachs Group Inc. acquired a new position in shares of Hyperfine during the second quarter worth $46,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Hyperfine during the first quarter worth $54,000. 27.65% of the stock is currently owned by hedge funds and other institutional investors.

Hyperfine Company Profile

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Hyperfine, Inc, a medical device company, provides magnetic resonance imaging (MRI) products. The company's products include Swoop Portable MR imaging system, which offers neuroimaging at the point of care, as well as informs the timely diagnosis and treatment of acute conditions in a wide range of clinical settings.