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

Investment analysts at Lake Street Capital initiated coverage on shares of Hyperfine (NASDAQ:HYPR) in a research 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 target price points to a potential upside of 81.88% from the stock’s current price.

HYPR has been the topic of several other reports. Wells Fargo & Company increased their target price on shares of Hyperfine from $1.10 to $1.29 and gave the stock an “equal weight” rating in a research note on Tuesday, March 18th. B. Riley lowered their target price on shares of 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

Shares of NASDAQ:HYPR opened at $0.82 on Monday. The firm has a 50 day simple moving average of $1.06 and a 200 day simple moving average of $1.00. The company has a market cap of $60.16 million, a price-to-earnings ratio of -1.45 and a beta of 0.94. Hyperfine has a one year low of $0.76 and a one year high of $1.90.

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

Hedge Funds Weigh In On Hyperfine

Institutional investors have recently modified their holdings of the company. Virtu Financial LLC bought a new stake in Hyperfine in the 4th quarter worth $25,000. Graypoint LLC purchased a new stake in Hyperfine in the fourth quarter worth about $44,000. Wealth Enhancement Advisory Services LLC boosted its position in 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 acquiring an additional 32,093 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Hyperfine by 32.9% during the 4th 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 position in shares of 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 acquiring 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.