B. Riley Cuts Hyperfine (NASDAQ:HYPR) Price Target to $1.20

Hyperfine (NASDAQ:HYPR) had its price target decreased by equities researchers at B. Riley from $1.50 to $1.20 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. B. Riley’s price target would suggest a potential upside of 41.08% from the stock’s previous close.

Separately, Wells Fargo & Company raised 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.

Hyperfine Price Performance

HYPR opened at $0.85 on Thursday. Hyperfine has a one year low of $0.76 and a one year high of $1.90. The firm has a market capitalization of $62.05 million, a P/E ratio of -1.49 and a beta of 0.94. The company has a fifty day moving average price of $1.07 and a 200-day moving average price of $1.01.

Hyperfine (NASDAQ:HYPR) last announced its earnings results on Monday, March 17th. The company reported ($0.14) earnings per share 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 business had revenue of $2.32 million for the quarter, compared to analyst estimates of $2.30 million. During the same period in the prior year, the company earned ($0.15) EPS. On average, analysts expect that Hyperfine will post -0.57 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its stake in 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. Graypoint LLC bought a new position in shares of Hyperfine during the 4th quarter valued at about $44,000. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Hyperfine by 64.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 82,008 shares of the company’s stock valued at $72,000 after buying an additional 32,093 shares in the last quarter. Renaissance Technologies LLC lifted its position in Hyperfine by 32.9% in the 4th quarter. Renaissance Technologies LLC now owns 212,300 shares of the company’s stock worth $187,000 after buying an additional 52,500 shares during the last quarter. Finally, Virtu Financial LLC purchased a new stake in Hyperfine in the fourth quarter worth approximately $25,000. Institutional investors own 15.03% of the company’s stock.

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.