Short Interest in Hyperfine, Inc. (NASDAQ:HYPR) Increases By 46.4%

Hyperfine, Inc. (NASDAQ:HYPR) was the recipient of a significant increase in short interest in the month of January. As of January 15th, there was short interest totaling 1,250,028 shares, an increase of 46.4% from the December 31st total of 854,005 shares. Currently, 1.9% of the shares of the stock are sold short. Based on an average daily volume of 487,628 shares, the days-to-cover ratio is currently 2.6 days. Based on an average daily volume of 487,628 shares, the days-to-cover ratio is currently 2.6 days. Currently, 1.9% of the shares of the stock are sold short.

Institutional Investors Weigh In On Hyperfine

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake 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 valued at $5,092,000 after acquiring an additional 190,136 shares during the last quarter. Sanctuary Advisors LLC increased its stake in Hyperfine by 130.9% in the 4th quarter. Sanctuary Advisors LLC now owns 39,938 shares of the company’s stock worth $39,000 after purchasing an additional 22,638 shares during the period. Kathmere Capital Management LLC purchased a new position in Hyperfine in the 4th quarter worth approximately $51,000. Finally, Tortoise Investment Management LLC bought a new stake in Hyperfine in the third quarter valued at approximately $65,000. Institutional investors own 15.03% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Wall Street Zen raised 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 Thursday, January 22nd. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Hyperfine currently has a consensus rating of “Hold” and a consensus price target of $1.28.

Hyperfine Stock Performance

HYPR stock opened at $1.12 on Friday. The company has a market capitalization of $108.83 million, a PE ratio of -2.15 and a beta of 1.09. Hyperfine has a one year low of $0.53 and a one year high of $2.22. The company’s 50 day moving average price is $1.07 and its two-hundred day moving average price is $1.21.

Hyperfine (NASDAQ:HYPR) last announced its quarterly earnings data on Thursday, November 13th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01). The business had revenue of $3.44 million during the quarter, compared to analysts’ expectations of $3.51 million. Hyperfine had a negative net margin of 378.17% and a negative return on equity of 97.95%. On average, research analysts predict that Hyperfine will post -0.57 EPS for the current year.

Hyperfine Company Profile

Hyperfine, Inc (NASDAQ: HYPR) is a medical technology company focused on expanding access to advanced neuroimaging through its portable magnetic resonance imaging (MRI) system. The company’s flagship product, Swoop®, is designed to enable bedside MRI scanning in a wide range of clinical environments, including emergency departments, intensive care units and outpatient clinics. By leveraging a compact, high-performance permanent magnet and a custom-designed gradient system, Hyperfine aims to reduce the logistical and financial barriers associated with traditional, large-scale MRI installations.

The Swoop system features a lightweight, wheeled design that can be maneuvered directly to a patient’s bedside, allowing clinicians to conduct diagnostic imaging without the need to transport critically ill or immobile patients.