Hyperfine (NASDAQ:HYPR) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Hyperfine (NASDAQ:HYPR) had its price target upped by Wells Fargo & Company from $1.10 to $1.29 in a research note published on Tuesday,Benzinga reports. They currently have an equal weight rating on the stock.

Hyperfine Stock Performance

Hyperfine stock opened at $0.86 on Tuesday. The stock has a market capitalization of $62.91 million, a price-to-earnings ratio of -1.51 and a beta of 0.94. Hyperfine has a 52-week low of $0.76 and a 52-week high of $1.90. The stock’s 50 day moving average price is $1.07 and its two-hundred day moving average price is $1.01.

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

Hedge Funds Weigh In On Hyperfine

Institutional investors and hedge funds have recently modified their holdings of the business. Geode Capital Management LLC lifted its holdings 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 purchasing an additional 98,335 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of 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 purchasing an additional 52,500 shares in the last quarter. Graypoint LLC bought a new position in shares of Hyperfine in the 4th quarter worth $44,000. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Hyperfine by 64.3% in the 4th 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 in the last quarter. Finally, Virtu Financial LLC bought a new position in shares of Hyperfine in the 4th quarter worth $25,000. 15.03% of the stock is currently owned by institutional investors.

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.