Hyperfine, Inc. (NASDAQ:HYPR) Short Interest Up 33.7% in March

Hyperfine, Inc. (NASDAQ:HYPR - Get Free Report) saw a large growth in short interest in the month of March. As of March 31st, there was short interest totalling 2,380,000 shares, a growth of 33.7% from the March 15th total of 1,780,000 shares. Approximately 4.1% of the shares of the company are sold short. Based on an average trading volume of 1,130,000 shares, the days-to-cover ratio is presently 2.1 days.

Institutional Trading of Hyperfine

Institutional investors and hedge funds have recently bought and sold shares of the stock. Virtu Financial LLC bought a new stake in shares of Hyperfine in the 4th quarter valued at about $25,000. Graypoint LLC acquired a new position in shares of Hyperfine in the fourth quarter worth approximately $44,000. Wealth Enhancement Advisory Services LLC boosted its holdings in Hyperfine by 64.3% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 82,008 shares of the company's stock valued at $72,000 after acquiring an additional 32,093 shares during the last quarter. Renaissance Technologies LLC increased its position in Hyperfine by 32.9% during the 4th 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 during the period. Finally, Geode Capital Management LLC raised its holdings in Hyperfine by 18.7% during the 3rd quarter. Geode Capital Management LLC now owns 624,520 shares of the company's stock worth $675,000 after purchasing an additional 98,335 shares during the last quarter. 15.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on HYPR shares. Lake Street Capital assumed coverage on shares of Hyperfine in a research report on Monday, March 24th. They set a "buy" rating and a $1.50 price objective for the company. Wells Fargo & Company upped their price target 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. Finally, B. Riley cut their price objective on shares of Hyperfine from $1.50 to $1.20 and set a "buy" rating for the company in a research report on Thursday, March 20th.

Hyperfine Stock Performance

Shares of HYPR traded up $0.05 during trading hours on Wednesday, reaching $0.77. The stock had a trading volume of 95,826 shares, compared to its average volume of 382,196. Hyperfine has a 12 month low of $0.58 and a 12 month high of $1.90. The stock has a market capitalization of $60.02 million, a PE ratio of -1.35 and a beta of 1.05. The company's 50-day moving average is $0.85 and its two-hundred day moving average is $0.95.

Hyperfine (NASDAQ:HYPR - Get Free Report) last posted its earnings results on Monday, March 17th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.02. The firm had revenue of $2.32 million during the quarter, compared to the consensus estimate 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 last year, the company earned ($0.15) earnings per share. Equities analysts anticipate that Hyperfine will post -0.57 earnings per share for the current fiscal year.

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.