Lake Street Capital Begins Coverage on Hyperfine (NASDAQ:HYPR)

Lake Street Capital initiated coverage on shares of Hyperfine (NASDAQ:HYPR - Free Report) in a report released on Monday morning, MarketBeat reports. The brokerage issued a buy rating and a $1.50 price objective on the stock.

HYPR has been the subject of a number of other reports. 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 report on Tuesday, March 18th. 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.

Hyperfine Trading Down 7.4 %

HYPR opened at $0.72 on Monday. The company has a 50 day moving average of $1.05 and a 200 day moving average of $1.00. Hyperfine has a 12 month low of $0.72 and a 12 month high of $1.90. The company has a market cap of $52.52 million, a PE ratio of -1.26 and a beta of 0.94.

Hyperfine (NASDAQ:HYPR - Get Free Report) last released its earnings results on Monday, March 17th. The company reported ($0.14) EPS for the quarter, beating analysts' consensus estimates of ($0.16) by $0.02. The business had revenue of $2.32 million for the quarter, compared to analysts' expectations 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 quarter in the prior year, the firm earned ($0.15) earnings per share. Research analysts forecast that Hyperfine will post -0.57 earnings per share for the current fiscal year.

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Institutional Investors Weigh In On Hyperfine

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its position in Hyperfine by 18.7% in the third 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. Graypoint LLC bought a new stake in Hyperfine during the fourth quarter valued at approximately $44,000. Wealth Enhancement Advisory Services LLC increased its holdings in Hyperfine by 64.3% during the fourth 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 position 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 acquiring an additional 52,500 shares during the period. Finally, Virtu Financial LLC purchased a new position in shares of Hyperfine during the 4th quarter worth $25,000. Hedge funds and other institutional investors own 15.03% of the company's stock.

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.