Hyperfine (NASDAQ:HYPR) Price Target Raised to $1.29

Hyperfine (NASDAQ:HYPR - Get Free Report) had its price target raised by analysts at Wells Fargo & Company from $1.10 to $1.29 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Wells Fargo & Company's target price suggests a potential upside of 57.32% from the stock's current price.

Hyperfine Trading Down 4.9 %

Hyperfine stock traded down $0.04 during trading hours on Tuesday, hitting $0.82. 669,841 shares of the stock traded hands, compared to its average volume of 353,838. The firm's 50-day moving average price is $1.06 and its two-hundred day moving average price is $1.00. The company has a market cap of $59.82 million, a PE ratio of -1.44 and a beta of 0.94. Hyperfine has a one year low of $0.76 and a one year high of $1.90.

Hyperfine (NASDAQ:HYPR - Get Free Report) last released its earnings results on Monday, March 17th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.02. Hyperfine had a negative net margin of 309.42% and a negative return on equity of 57.54%. The firm had revenue of $2.32 million during the quarter, compared to analyst estimates of $2.30 million. During the same period last year, the business earned ($0.15) earnings per share. On average, sell-side analysts expect that Hyperfine will post -0.57 earnings per share for the current fiscal year.

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Hedge Funds Weigh In On Hyperfine

A number of hedge funds have recently added to or reduced their stakes in HYPR. Virtu Financial LLC purchased a new position in Hyperfine in the 4th quarter worth approximately $25,000. Graypoint LLC purchased a new stake in Hyperfine during the 4th quarter valued at $44,000. Wealth Enhancement Advisory Services LLC raised its stake in 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 during the last quarter. Renaissance Technologies LLC raised its stake 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 buying an additional 52,500 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in Hyperfine by 18.7% during the 3rd quarter. Geode Capital Management LLC now owns 624,520 shares of the company's stock valued at $675,000 after buying an additional 98,335 shares during the last quarter. 15.03% of the stock is currently 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.