Hyperfine (NASDAQ:HYPR) Shares Up 8.2% – Here’s Why

Hyperfine, Inc. (NASDAQ:HYPR)’s share price rose 8.2% during mid-day trading on Friday . The stock traded as high as $1.10 and last traded at $1.06. Approximately 328,884 shares traded hands during trading, an increase of 6% from the average daily volume of 310,742 shares. The stock had previously closed at $0.98.

Hyperfine Trading Up 8.2 %

The firm has a 50-day moving average price of $0.95 and a 200-day moving average price of $1.00. The stock has a market capitalization of $77.33 million, a PE ratio of -1.86 and a beta of 0.86.

Hyperfine (NASDAQ:HYPR) last released its earnings results on Tuesday, November 12th. The company reported ($0.14) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.14). Hyperfine had a negative net margin of 309.42% and a negative return on equity of 57.54%. The firm had revenue of $3.64 million for the quarter, compared to analysts’ expectations of $3.40 million. During the same period in the previous year, the company earned ($0.15) earnings per share. Sell-side analysts expect that Hyperfine, Inc. will post -0.57 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Hyperfine stock. Geode Capital Management LLC lifted its stake in Hyperfine, Inc. (NASDAQ:HYPR) by 18.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 624,520 shares of the company’s stock after acquiring an additional 98,335 shares during the period. Geode Capital Management LLC owned approximately 0.86% of Hyperfine worth $675,000 at the end of the most recent reporting period. Institutional investors own 15.03% of the company’s stock.

Hyperfine Company Profile

Hyperfine, Inc, a medical device company, provides magnetic resonance imaging (MRI) products in the United States. The company offers Swoop Portable MR imaging system, which offers portable brain neuroimaging; and support and technical assistance services. It serves ICU, comprehensive, and primary stroke accredited facilities through direct sales and distributors.