Hyperfine, Inc. (NASDAQ:HYPR) Short Interest Update

Hyperfine, Inc. (NASDAQ:HYPR) was the target of a large growth in short interest during the month of June. As of June 30th, there was short interest totaling 3,358,029 shares, a growth of 98.1% from the June 15th total of 1,694,898 shares. Based on an average daily volume of 2,548,164 shares, the short-interest ratio is currently 1.3 days. Currently, 4.6% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on HYPR shares. Zacks Research upgraded Hyperfine to a “hold” rating in a report on Thursday, March 19th. B. Riley Financial reiterated a “buy” rating on shares of Hyperfine in a research report on Wednesday, May 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Hyperfine in a report on Tuesday, April 21st. 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 report on Thursday, March 19th. Finally, BTIG Research initiated coverage on shares of Hyperfine in a research report on Wednesday, April 29th. They issued a “buy” rating and a $2.00 price objective for the company. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Hyperfine currently has an average rating of “Hold” and an average price target of $1.78.

Hedge Funds Weigh In On Hyperfine

A number of institutional investors have recently bought and sold shares of HYPR. EP Wealth Advisors LLC bought a new stake in Hyperfine in the 4th quarter valued at $34,000. Sanctuary Advisors LLC lifted its stake in shares of Hyperfine by 130.9% during 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 acquired a new stake in shares of Hyperfine during the 4th quarter worth about $51,000. Millennium Management LLC bought a new stake in shares of Hyperfine during the 4th quarter worth about $55,000. Finally, Cerity Partners LLC bought a new stake in shares of Hyperfine during the 4th quarter worth about $59,000. Institutional investors and hedge funds own 15.03% of the company’s stock.

Hyperfine Trading Down 1.9%

NASDAQ HYPR opened at $1.02 on Thursday. The stock has a market capitalization of $101.26 million, a price-to-earnings ratio of -2.49 and a beta of 1.40. Hyperfine has a 52 week low of $0.78 and a 52 week high of $2.22. The stock’s 50 day moving average price is $1.44 and its two-hundred day moving average price is $1.26. The company has a debt-to-equity ratio of 0.38, a quick ratio of 4.90 and a current ratio of 5.52.

Hyperfine (NASDAQ:HYPR) last released its earnings results on Tuesday, May 12th. The company reported ($0.09) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.09). The business had revenue of $3.90 million during the quarter, compared to the consensus estimate of $3.54 million. Hyperfine had a negative net margin of 226.88% and a negative return on equity of 98.83%. As a group, analysts anticipate that Hyperfine will post -0.34 earnings per share for the current fiscal year.

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.