Hyperfine (NASDAQ:HYPR) Stock Price Up 0.5% - Should You Buy?

Hyperfine, Inc. (NASDAQ:HYPR - Get Free Report)'s share price traded up 0.5% during trading on Monday . The company traded as high as $0.75 and last traded at $0.74. 207,294 shares were traded during trading, a decline of 45% from the average session volume of 380,075 shares. The stock had previously closed at $0.73.

Analysts Set New Price Targets

HYPR has been the topic of a number of research reports. Wells Fargo & Company lifted their price objective on Hyperfine from $1.10 to $1.29 and gave the stock an "equal weight" rating in a research note on Tuesday, March 18th. Lake Street Capital initiated coverage on shares of Hyperfine in a research note on Monday, March 24th. They set a "buy" rating and a $1.50 price target on the stock. Finally, B. Riley dropped their price objective on shares of Hyperfine from $1.50 to $1.20 and set a "buy" rating for the company in a research note on Thursday, March 20th.

Hyperfine Trading Up 0.5 %

The firm has a market capitalization of $57.32 million, a P/E ratio of -1.29 and a beta of 1.05. The firm has a 50 day moving average price of $0.94 and a 200-day moving average price of $0.97.

Hyperfine (NASDAQ:HYPR - Get Free Report) last issued its quarterly earnings results on Monday, March 17th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.16) by $0.02. Hyperfine had a negative return on equity of 57.54% and a negative net margin of 309.42%. The company had revenue of $2.32 million during the quarter, compared to the consensus estimate of $2.30 million. During the same period last year, the company earned ($0.15) earnings per share. Research analysts anticipate that Hyperfine, Inc. will post -0.57 earnings per share for the current year.

Institutional Trading of Hyperfine

Institutional investors have recently added to or reduced their stakes in the company. Virtu Financial LLC bought a new position in shares of Hyperfine during the fourth quarter valued at approximately $25,000. Wealth Enhancement Advisory Services LLC grew its position in Hyperfine by 64.3% in the 4th 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. Graypoint LLC purchased a new stake in Hyperfine in the fourth quarter worth $44,000. Renaissance Technologies LLC lifted its position in shares of Hyperfine by 32.9% during the fourth quarter. Renaissance Technologies LLC now owns 212,300 shares of the company's stock worth $187,000 after purchasing an additional 52,500 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Hyperfine by 18.7% during the third quarter. Geode Capital Management LLC now owns 624,520 shares of the company's stock valued at $675,000 after purchasing an additional 98,335 shares during the period. Institutional investors own 15.03% of the company's stock.

About Hyperfine

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.

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