Hyperfine (NASDAQ:HYPR) Trading Up 4.9%

Hyperfine, Inc. (NASDAQ:HYPR)’s stock price rose 4.9% during mid-day trading on Thursday . The stock traded as high as $1.05 and last traded at $1.01. Approximately 304,065 shares traded hands during trading, an increase of 156% from the average daily volume of 118,842 shares. The stock had previously closed at $0.96.

Analyst Ratings Changes

Separately, Wells Fargo & Company reduced their price target on Hyperfine from $2.10 to $1.60 and set an “equal weight” rating on the stock in a research report on Friday, March 22nd.

Hyperfine Stock Performance

The stock has a market cap of $72.81 million, a P/E ratio of -1.72 and a beta of 0.84. The firm’s fifty day simple moving average is $0.86 and its 200-day simple moving average is $0.98.

Hyperfine (NASDAQ:HYPR) last released its earnings results on Monday, May 13th. The company reported ($0.14) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.14). Hyperfine had a negative net margin of 358.59% and a negative return on equity of 46.96%. The business had revenue of $3.30 million for the quarter, compared to analyst estimates of $3.03 million. Analysts predict that Hyperfine, Inc. will post -0.53 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Hyperfine

Large investors have recently bought and sold shares of the stock. Citigroup Inc. bought a new stake in shares of Hyperfine during the third quarter valued at approximately $29,000. EP Wealth Advisors LLC acquired a new stake in Hyperfine in the 3rd quarter valued at $71,000. Finally, Journey Strategic Wealth LLC bought a new stake in Hyperfine during the 4th quarter valued at $84,000. 15.03% of the stock is currently owned by institutional investors and hedge funds.

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.