Wells Fargo & Company Issues Positive Forecast for Hyperfine (NASDAQ:HYPR) Stock Price

Hyperfine (NASDAQ:HYPR) had its target price hoisted by Wells Fargo & Company from $0.68 to $0.85 in a report issued on Friday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

A number of other brokerages also recently issued reports on HYPR. Lake Street Capital increased their price objective on Hyperfine from $1.50 to $2.00 and gave the stock a “buy” rating in a research report on Thursday. B. Riley reiterated a “buy” rating on shares of Hyperfine in a research report on Tuesday, June 3rd.

Hyperfine Stock Performance

Shares of HYPR stock opened at $1.39 on Friday. Hyperfine has a 52-week low of $0.53 and a 52-week high of $1.90. The company has a market capitalization of $108.18 million, a PE ratio of -2.67 and a beta of 1.06. The business’s fifty day moving average is $0.92 and its 200 day moving average is $0.88.

Hyperfine (NASDAQ:HYPR) last issued its quarterly earnings data on Wednesday, August 13th. The company reported ($0.12) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.12). Hyperfine had a negative return on equity of 84.82% and a negative net margin of 364.54%. The company had revenue of $2.70 million for the quarter, compared to the consensus estimate of $3.00 million. On average, sell-side analysts forecast that Hyperfine will post -0.57 EPS for the current fiscal year.

Institutional Investors Weigh In On Hyperfine

A number of large investors have recently added to or reduced their stakes in the company. EP Wealth Advisors LLC purchased a new stake in Hyperfine during the first quarter valued at about $25,000. AMH Equity Ltd purchased a new stake in Hyperfine during the first quarter valued at about $90,000. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Hyperfine by 64.3% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 82,008 shares of the company’s stock worth $72,000 after buying an additional 32,093 shares during the period. Finally, Renaissance Technologies LLC increased its holdings in shares of Hyperfine by 32.9% in the fourth 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 period. Hedge funds and other 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.