Hyperfine (NASDAQ:HYPR) Coverage Initiated by Analysts at Lake Street Capital

Lake Street Capital assumed coverage on shares of Hyperfine (NASDAQ:HYPR) in a research report issued on Monday,Benzinga reports. The brokerage set a “buy” rating and a $1.50 price target on the stock. Lake Street Capital’s price objective would indicate a potential upside of 82.93% from the company’s previous close.

A number of other equities analysts have also weighed in on HYPR. B. Riley lowered their target price on Hyperfine from $1.50 to $1.20 and set a “buy” rating on the stock in a research note on Thursday. Wells Fargo & Company increased their price objective on Hyperfine from $1.10 to $1.29 and gave the stock an “equal weight” rating in a research report on Tuesday, March 18th.

Hyperfine Price Performance

HYPR stock opened at $0.82 on Monday. Hyperfine has a one year low of $0.76 and a one year high of $1.90. The stock has a market cap of $59.82 million, a price-to-earnings ratio of -1.44 and a beta of 0.94. The company has a fifty day moving average price of $1.06 and a two-hundred day moving average price of $1.00.

Hyperfine (NASDAQ:HYPR) last announced its earnings results on Monday, March 17th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.02. Hyperfine had a negative net margin of 309.42% and a negative return on equity of 57.54%. The business had revenue of $2.32 million during the quarter, compared to the consensus estimate of $2.30 million. During the same quarter in the previous year, the firm posted ($0.15) EPS. Research analysts anticipate that Hyperfine will post -0.57 EPS for the current fiscal year.

Institutional Investors Weigh In On Hyperfine

A number of hedge funds and other institutional investors have recently made changes to their positions in HYPR. Virtu Financial LLC acquired a new stake in Hyperfine during the fourth quarter worth approximately $25,000. Wealth Enhancement Advisory Services LLC lifted its position in shares of Hyperfine by 64.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 82,008 shares of the company’s stock valued at $72,000 after acquiring an additional 32,093 shares during the period. Graypoint LLC acquired a new stake in shares of Hyperfine during the 4th quarter worth $44,000. Renaissance Technologies LLC increased its position in shares of Hyperfine by 32.9% in the fourth quarter. Renaissance Technologies LLC now owns 212,300 shares of the company’s stock worth $187,000 after purchasing an additional 52,500 shares during the period. Finally, Geode Capital Management LLC raised its stake in Hyperfine by 18.7% in the third quarter. Geode Capital Management LLC now owns 624,520 shares of the company’s stock valued at $675,000 after purchasing an additional 98,335 shares in the last quarter. 15.03% of the stock is currently owned by institutional investors and hedge funds.

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.