Hyperfine (NASDAQ:HYPR) Price Target Raised to $1.29

Hyperfine (NASDAQ:HYPR) had its price target hoisted by Wells Fargo & Company from $1.10 to $1.29 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective suggests a potential upside of 51.66% from the stock’s current price.

Hyperfine Stock Down 6.8 %

Hyperfine stock opened at $0.85 on Tuesday. Hyperfine has a 12-month low of $0.76 and a 12-month high of $1.90. The business’s 50-day moving average price is $1.07 and its two-hundred day moving average price is $1.01. The stock has a market cap of $62.05 million, a PE ratio of -1.49 and a beta of 0.94.

Hyperfine (NASDAQ:HYPR) last released its earnings results on Monday, March 17th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.02. Hyperfine had a negative return on equity of 57.54% and a negative net margin of 309.42%. The firm had revenue of $2.32 million for the quarter, compared to analysts’ expectations of $2.30 million. During the same quarter in the previous year, the business posted ($0.15) earnings per share. As a group, analysts expect that Hyperfine will post -0.57 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of HYPR. Virtu Financial LLC bought a new stake in shares of Hyperfine during the fourth quarter worth about $25,000. Graypoint LLC bought a new stake in shares of Hyperfine during the fourth quarter worth about $44,000. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Hyperfine by 64.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 82,008 shares of the company’s stock worth $72,000 after purchasing an additional 32,093 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Hyperfine by 32.9% during 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 last quarter. Finally, Geode Capital Management LLC grew its holdings 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 during the last quarter. Institutional investors own 15.03% of the company’s stock.

About Hyperfine

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.