Hyperfine (NASDAQ:HYPR) Trading 8.2% Higher – Here’s Why

Hyperfine, Inc. (NASDAQ:HYPR)’s stock price traded up 8.2% during trading on Friday . The stock traded as high as $1.10 and last traded at $1.06. 328,884 shares changed hands during trading, an increase of 6% from the average session volume of 310,742 shares. The stock had previously closed at $0.98.

Hyperfine Stock Up 8.2 %

The stock has a market cap of $77.33 million, a P/E ratio of -1.86 and a beta of 0.86. The company’s 50 day moving average price is $0.95 and its 200-day moving average price is $1.00.

Hyperfine (NASDAQ:HYPR) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.14) earnings per share for the quarter, meeting the consensus estimate of ($0.14). Hyperfine had a negative net margin of 309.42% and a negative return on equity of 57.54%. The firm had revenue of $3.64 million for the quarter, compared to analyst estimates of $3.40 million. During the same quarter in the prior year, the business earned ($0.15) earnings per share. Equities research analysts anticipate that Hyperfine, Inc. will post -0.57 earnings per share for the current year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Hyperfine stock. Geode Capital Management LLC grew its position in shares of Hyperfine, Inc. (NASDAQ:HYPR) by 18.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 624,520 shares of the company’s stock after buying an additional 98,335 shares during the quarter. Geode Capital Management LLC owned 0.86% of Hyperfine worth $675,000 as of its most recent filing with the Securities & Exchange Commission. 15.03% of the stock is currently owned by hedge funds and other institutional investors.

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.