Hyperfine (NASDAQ:HYPR) Releases Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Hyperfine (NASDAQ:HYPR) issued its earnings results on Wednesday. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.03, reports. Hyperfine had a negative net margin of 378.17% and a negative return on equity of 97.95%. The company had revenue of $5.29 million for the quarter, compared to analyst estimates of $5.30 million.

Hyperfine Stock Performance

Shares of NASDAQ:HYPR traded down $0.03 during mid-day trading on Wednesday, hitting $1.27. 1,295,098 shares of the company traded hands, compared to its average volume of 480,867. Hyperfine has a 52-week low of $0.53 and a 52-week high of $2.22. The firm’s 50 day simple moving average is $1.14 and its 200 day simple moving average is $1.20. The firm has a market cap of $123.41 million, a P/E ratio of -2.44 and a beta of 1.09.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Hyperfine in a report on Thursday, January 22nd. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Hyperfine presently has a consensus rating of “Hold” and an average target price of $1.28.

Institutional Investors Weigh In On Hyperfine

Hedge funds have recently bought and sold shares of the business. State Street Corp boosted its stake in Hyperfine by 6.1% during the 4th quarter. State Street Corp now owns 265,195 shares of the company’s stock valued at $260,000 after acquiring an additional 15,200 shares during the last quarter. XTX Topco Ltd raised its stake in shares of Hyperfine by 47.9% in the 4th quarter. XTX Topco Ltd now owns 80,735 shares of the company’s stock valued at $79,000 after purchasing an additional 26,165 shares in the last quarter. EP Wealth Advisors LLC bought a new position in shares of Hyperfine during the fourth quarter worth about $34,000. Bridgeway Capital Management LLC lifted its position in shares of Hyperfine by 50.2% during the fourth quarter. Bridgeway Capital Management LLC now owns 119,700 shares of the company’s stock worth $117,000 after purchasing an additional 40,000 shares during the last quarter. Finally, Millennium Management LLC acquired a new position in Hyperfine in the fourth quarter worth about $55,000. Institutional investors and hedge funds own 15.03% of the company’s stock.

Hyperfine Company Profile

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.