Zacks Research Upgrades Hyperfine (NASDAQ:HYPR) to Hold

Hyperfine (NASDAQ:HYPR) was upgraded by equities research analysts at Zacks Research to a “hold” rating in a research note issued on Thursday,Zacks.com reports.

Other equities analysts also recently issued reports about the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Hyperfine in a research note on Thursday, January 22nd. Lake Street Capital boosted their price objective on shares of Hyperfine from $2.00 to $2.50 and gave the stock a “buy” rating in a research note on Thursday. 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 stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $1.45.

Hyperfine Price Performance

NASDAQ:HYPR opened at $1.24 on Thursday. Hyperfine has a 1-year low of $0.53 and a 1-year high of $2.22. The company has a 50-day moving average of $1.15 and a 200 day moving average of $1.20. The firm has a market cap of $120.49 million, a PE ratio of -2.82 and a beta of 1.09.

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

Hedge Funds Weigh In On Hyperfine

A number of large investors have recently added to or reduced their stakes in the company. EP Wealth Advisors LLC bought a new stake in shares of Hyperfine in the 4th quarter valued at about $34,000. Sanctuary Advisors LLC grew its position in shares of Hyperfine by 130.9% in the 4th quarter. Sanctuary Advisors LLC now owns 39,938 shares of the company’s stock worth $39,000 after buying an additional 22,638 shares during the last quarter. Kathmere Capital Management LLC bought a new position in shares of Hyperfine during the 4th quarter worth approximately $51,000. Millennium Management LLC purchased a new stake in Hyperfine during the fourth quarter valued at approximately $55,000. Finally, Cerity Partners LLC purchased a new stake in Hyperfine during the fourth quarter valued at approximately $59,000. 15.03% of the stock is currently owned by institutional investors.

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.