Hyperfine (NASDAQ:HYPR) CFO Sells $29,267.48 in Stock

Hyperfine, Inc. (NASDAQ:HYPR) CFO Brett Hale sold 24,188 shares of the stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $1.21, for a total value of $29,267.48. Following the transaction, the chief financial officer directly owned 275,812 shares of the company’s stock, valued at approximately $333,732.52. This trade represents a 8.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Hyperfine Price Performance

NASDAQ:HYPR opened at $1.11 on Friday. The company has a market capitalization of $107.86 million, a P/E ratio of -2.52 and a beta of 1.09. The business has a fifty day simple moving average of $1.15 and a two-hundred day simple moving average of $1.20. Hyperfine, Inc. has a 1 year low of $0.53 and a 1 year high of $2.22.

Hyperfine (NASDAQ:HYPR) last issued its quarterly earnings results on Wednesday, March 18th. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.02. The firm had revenue of $5.29 million for the quarter, compared to analysts’ expectations of $5.30 million. Hyperfine had a negative return on equity of 95.09% and a negative net margin of 262.29%. As a group, analysts anticipate that Hyperfine, Inc. will post -0.57 earnings per share for the current year.

Institutional Trading of Hyperfine

A number of hedge funds and other institutional investors have recently made changes to their positions in HYPR. Vanguard Group Inc. lifted its holdings in Hyperfine by 5.7% during the 3rd quarter. Vanguard Group Inc. now owns 3,511,972 shares of the company’s stock worth $5,092,000 after purchasing an additional 190,136 shares in the last quarter. Tortoise Investment Management LLC purchased a new position in Hyperfine during the 3rd quarter valued at about $65,000. Kathmere Capital Management LLC purchased a new position in Hyperfine during the 4th quarter valued at about $51,000. Sanctuary Advisors LLC increased its position in shares of Hyperfine by 130.9% during the fourth quarter. Sanctuary Advisors LLC now owns 39,938 shares of the company’s stock valued at $39,000 after buying an additional 22,638 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Hyperfine by 21.4% during the fourth quarter. Geode Capital Management LLC now owns 815,986 shares of the company’s stock valued at $799,000 after buying an additional 143,975 shares during the period. 15.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Lake Street Capital increased their target price on shares of Hyperfine from $2.00 to $2.50 and gave the stock a “buy” rating in a research report on Thursday, March 19th. Zacks Research raised shares of Hyperfine to a “hold” rating in a research report on Thursday, March 19th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Hyperfine in a research note on Thursday, January 22nd. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Hyperfine currently has an average rating of “Hold” and a consensus target price of $1.45.

About Hyperfine

Hyperfine, Inc (NASDAQ: HYPR) is a medical technology company focused on expanding access to advanced neuroimaging through its portable magnetic resonance imaging (MRI) system. The company’s flagship product, Swoop®, is designed to enable bedside MRI scanning in a wide range of clinical environments, including emergency departments, intensive care units and outpatient clinics. By leveraging a compact, high-performance permanent magnet and a custom-designed gradient system, Hyperfine aims to reduce the logistical and financial barriers associated with traditional, large-scale MRI installations.

The Swoop system features a lightweight, wheeled design that can be maneuvered directly to a patient’s bedside, allowing clinicians to conduct diagnostic imaging without the need to transport critically ill or immobile patients.