Brokerages Set Hyperfine, Inc. (NASDAQ:HYPR) Target Price at $1.45

Hyperfine, Inc. (NASDAQ:HYPR) has been assigned an average recommendation of “Hold” from the five ratings firms that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and two have given a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $1.45.

HYPR has been the topic of several research analyst reports. Zacks Research raised Hyperfine to a “hold” rating in a research note on Thursday, March 19th. Weiss Ratings reissued a “sell (d-)” rating on shares of Hyperfine in a research note on Thursday, January 22nd. Finally, Lake Street Capital raised their price target on Hyperfine from $2.00 to $2.50 and gave the stock a “buy” rating in a research report on Thursday, March 19th.

Hyperfine Stock Performance

Shares of NASDAQ HYPR opened at $1.31 on Wednesday. Hyperfine has a 52-week low of $0.53 and a 52-week high of $2.22. The stock has a market cap of $128.33 million, a P/E ratio of -2.98 and a beta of 1.06. The firm has a 50 day moving average price of $1.15 and a 200 day moving average price of $1.17.

Hyperfine (NASDAQ:HYPR) last posted its earnings results on Wednesday, March 18th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.02. Hyperfine had a negative net margin of 262.29% and a negative return on equity of 95.09%. The company had revenue of $5.29 million for the quarter, compared to analyst estimates of $5.30 million. Analysts predict that Hyperfine will post -0.57 earnings per share for the current fiscal year.

Insider Activity at Hyperfine

In other Hyperfine news, CFO Brett Hale sold 24,188 shares of Hyperfine stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $1.21, for a total value of $29,267.48. Following the transaction, the chief financial officer owned 275,812 shares of the company’s stock, valued at approximately $333,732.52. The trade was a 8.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Thomas Teisseyre sold 24,188 shares of the company’s stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $1.21, for a total transaction of $29,267.48. Following the completion of the transaction, the chief operating officer owned 354,648 shares of the company’s stock, valued at $429,124.08. This trade represents a 6.38% decrease in their position. The SEC filing for this sale provides additional information. 30.98% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Hyperfine

Hedge funds and other institutional investors have recently made changes to their positions in the stock. EP Wealth Advisors LLC acquired a new position in Hyperfine in the 4th quarter worth $34,000. Sanctuary Advisors LLC increased its holdings in Hyperfine by 130.9% during the 4th quarter. Sanctuary Advisors LLC now owns 39,938 shares of the company’s stock worth $39,000 after purchasing an additional 22,638 shares in the last quarter. Kathmere Capital Management LLC acquired a new stake in shares of Hyperfine in the 4th quarter valued at about $51,000. Millennium Management LLC bought a new stake in shares of Hyperfine in the fourth quarter valued at about $55,000. Finally, Cerity Partners LLC bought a new stake in shares of Hyperfine in the fourth quarter valued at about $59,000. 15.03% of the stock is currently owned by institutional investors and hedge funds.

Hyperfine Company Profile

Hyperfine, Inc (NASDAQ: HYPR) is a medical technology company focused on expanding access to advanced neuroimaging through its portable magnetic resonance imaging (MRI) system. The company’s flagship product, Swoop®, is designed to enable bedside MRI scanning in a wide range of clinical environments, including emergency departments, intensive care units and outpatient clinics. By leveraging a compact, high-performance permanent magnet and a custom-designed gradient system, Hyperfine aims to reduce the logistical and financial barriers associated with traditional, large-scale MRI installations.

The Swoop system features a lightweight, wheeled design that can be maneuvered directly to a patient’s bedside, allowing clinicians to conduct diagnostic imaging without the need to transport critically ill or immobile patients.