Hyperfine, Inc. (NASDAQ:HYPR) Sees Large Growth in Short Interest

Hyperfine, Inc. (NASDAQ:HYPR) saw a significant increase in short interest in December. As of December 31st, there was short interest totaling 854,005 shares, an increase of 29.5% from the December 15th total of 659,270 shares. Currently, 1.3% of the shares of the company are sold short. Based on an average trading volume of 687,679 shares, the short-interest ratio is currently 1.2 days. Based on an average trading volume of 687,679 shares, the short-interest ratio is currently 1.2 days. Currently, 1.3% of the shares of the company are sold short.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of HYPR. Vanguard Group Inc. increased its stake in shares of Hyperfine by 5.7% during the third quarter. Vanguard Group Inc. now owns 3,511,972 shares of the company’s stock valued at $5,092,000 after purchasing an additional 190,136 shares in the last quarter. Tortoise Investment Management LLC purchased a new stake in shares of Hyperfine in the 3rd quarter worth approximately $65,000. Finally, Kathmere Capital Management LLC bought a new position in Hyperfine during the 4th quarter valued at approximately $51,000. 15.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

HYPR has been the subject of a number of recent analyst reports. Wall Street Zen raised Hyperfine from a “sell” rating to a “hold” rating in a report on Saturday, October 25th. Weiss Ratings reissued a “sell (d-)” rating on shares of Hyperfine in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $1.28.

Hyperfine Price Performance

HYPR opened at $1.15 on Tuesday. The firm has a market capitalization of $111.75 million, a price-to-earnings ratio of -2.21 and a beta of 1.09. Hyperfine has a one year low of $0.53 and a one year high of $2.22. The business has a 50 day simple moving average of $1.04 and a two-hundred day simple moving average of $1.18.

Hyperfine (NASDAQ:HYPR) last released its quarterly earnings results on Thursday, November 13th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01). Hyperfine had a negative return on equity of 97.95% and a negative net margin of 378.17%.The company had revenue of $3.44 million during the quarter, compared to the consensus estimate of $3.51 million. As a group, sell-side analysts expect that Hyperfine will post -0.57 EPS for the current fiscal year.

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.