Hyperfine, Inc. (NASDAQ:HYPR) Sees Significant Increase in Short Interest

Hyperfine, Inc. (NASDAQ:HYPR) was the target of a large increase in short interest in March. As of March 31st, there was short interest totalling 2,380,000 shares, an increase of 33.7% from the March 15th total of 1,780,000 shares. Based on an average daily volume of 1,130,000 shares, the short-interest ratio is presently 2.1 days. Approximately 4.1% of the company’s stock are sold short.

Hyperfine Price Performance

Shares of NASDAQ:HYPR traded up $0.03 during trading on Friday, reaching $0.70. 111,834 shares of the company were exchanged, compared to its average volume of 383,238. The business’s fifty day simple moving average is $0.87 and its 200-day simple moving average is $0.96. The firm has a market capitalization of $54.18 million, a PE ratio of -1.22 and a beta of 1.05. Hyperfine has a 12-month low of $0.58 and a 12-month high of $1.90.

Hyperfine (NASDAQ:HYPR) last announced its earnings results on Monday, March 17th. The company reported ($0.14) earnings per share for the quarter, beating 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 company had revenue of $2.32 million during the quarter, compared to the consensus estimate of $2.30 million. During the same period last year, the firm earned ($0.15) earnings per share. On average, sell-side analysts anticipate that Hyperfine will post -0.57 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on HYPR shares. Wells Fargo & Company boosted their target price on shares of Hyperfine from $1.10 to $1.29 and gave the company an “equal weight” rating in a research note on Tuesday, March 18th. B. Riley lowered their price target on shares of Hyperfine from $1.50 to $1.20 and set a “buy” rating on the stock in a report on Thursday, March 20th. Finally, Lake Street Capital began coverage on Hyperfine in a research note on Monday, March 24th. They issued a “buy” rating and a $1.50 price objective for the company.

Institutional Trading of Hyperfine

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

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.