Short Interest in Hyperfine, Inc. (NASDAQ:HYPR) Rises By 59.7%

Hyperfine, Inc. (NASDAQ:HYPR) saw a large growth in short interest in the month of February. As of February 15th, there was short interest totalling 2,140,000 shares, a growth of 59.7% from the January 31st total of 1,340,000 shares. Based on an average daily volume of 301,800 shares, the days-to-cover ratio is currently 7.1 days. Currently, 3.8% of the company’s shares are sold short.

Institutional Trading of Hyperfine

Several institutional investors and hedge funds have recently made changes to their positions in the company. Virtu Financial LLC bought a new position in Hyperfine during the 4th quarter worth about $25,000. Graypoint LLC purchased a new stake in shares of Hyperfine in the 4th quarter worth approximately $44,000. Renaissance Technologies LLC boosted its stake in shares of Hyperfine by 32.9% during the fourth quarter. Renaissance Technologies LLC now owns 212,300 shares of the company’s stock valued at $187,000 after purchasing an additional 52,500 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Hyperfine by 18.7% during the third quarter. Geode Capital Management LLC now owns 624,520 shares of the company’s stock valued at $675,000 after buying an additional 98,335 shares during the period. 15.03% of the stock is currently owned by institutional investors.

Hyperfine Stock Performance

NASDAQ HYPR traded down $0.04 on Monday, reaching $0.93. 269,735 shares of the stock traded hands, compared to its average volume of 421,781. Hyperfine has a 12 month low of $0.76 and a 12 month high of $1.90. The company has a market cap of $67.84 million, a price-to-earnings ratio of -1.63 and a beta of 0.92. The company has a fifty day moving average price of $1.06 and a 200-day moving average price of $1.01.

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.