Lake Street Capital Begins Coverage on Hyperfine (NASDAQ:HYPR)

Equities researchers at Lake Street Capital initiated coverage on shares of Hyperfine (NASDAQ:HYPR) in a report issued on Monday,Benzinga reports. The firm set a “buy” rating and a $1.50 price target on the stock. Lake Street Capital’s price target points to a potential upside of 81.88% from the company’s current price.

A number of other analysts have also issued reports on HYPR. Wells Fargo & Company raised their target price on Hyperfine from $1.10 to $1.29 and gave the company an “equal weight” rating in a report on Tuesday, March 18th. B. Riley dropped their price target on Hyperfine from $1.50 to $1.20 and set a “buy” rating for the company in a report on Thursday, March 20th.

Hyperfine Price Performance

HYPR opened at $0.82 on Monday. The company has a market capitalization of $60.16 million, a price-to-earnings ratio of -1.45 and a beta of 0.94. Hyperfine has a 1-year low of $0.76 and a 1-year high of $1.90. The business has a 50 day moving average price of $1.06 and a two-hundred day moving average price of $1.00.

Hyperfine (NASDAQ:HYPR) last announced its quarterly earnings data on Monday, March 17th. The company reported ($0.14) EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $2.30 million. During the same period last year, the company posted ($0.15) EPS. Equities analysts expect that Hyperfine will post -0.57 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HYPR. Virtu Financial LLC bought a new position in Hyperfine during the 4th quarter worth about $25,000. Wealth Enhancement Advisory Services LLC increased its stake 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 period. Graypoint LLC bought a new stake in shares of Hyperfine in the fourth quarter valued at about $44,000. Renaissance Technologies LLC increased its position in 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 acquiring an additional 52,500 shares during the period. Finally, Geode Capital Management LLC raised its stake in Hyperfine by 18.7% in the 3rd 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 currently owned by institutional investors.

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.