Hyperfine (NASDAQ:HYPR) Trading Down 6.8% – Here’s What Happened

Hyperfine, Inc. (NASDAQ:HYPR)’s stock price traded down 6.8% during mid-day trading on Monday . The stock traded as low as $0.9250 and last traded at $0.9277. 3,219,550 shares traded hands during mid-day trading, an increase of 501% from the average session volume of 536,113 shares. The stock had previously closed at $0.9959.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on HYPR. Wall Street Zen upgraded Hyperfine from a “sell” rating to a “hold” rating in a research note on Saturday, October 25th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Hyperfine in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Hyperfine presently has an average rating of “Hold” and an average target price of $1.28.

Hyperfine Price Performance

The firm has a market cap of $90.14 million, a P/E ratio of -1.78 and a beta of 1.08. The company’s 50 day moving average is $1.22 and its two-hundred day moving average is $1.13.

Hyperfine (NASDAQ:HYPR) last issued its quarterly earnings results on Thursday, November 13th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.01). Hyperfine had a negative net margin of 378.17% and a negative return on equity of 97.95%. The firm had revenue of $3.44 million for the quarter, compared to the consensus estimate of $3.51 million. Research analysts predict that Hyperfine, Inc. will post -0.57 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. EP Wealth Advisors LLC acquired a new position in shares of Hyperfine in the 1st quarter valued at $25,000. Tortoise Investment Management LLC bought a new stake in shares of Hyperfine in the 3rd quarter valued at approximately $65,000. Finally, Vanguard Group Inc. raised its holdings in shares of Hyperfine by 5.7% in the 3rd quarter. Vanguard Group Inc. now owns 3,511,972 shares of the company’s stock worth $5,092,000 after buying an additional 190,136 shares in the last quarter. 15.03% of the stock is 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.