Hyperfine (NASDAQ:HYPR) Trading Down 4.3% – Should You Sell?

Hyperfine, Inc. (NASDAQ:HYPR) shares traded down 4.3% on Monday . The stock traded as low as $1.08 and last traded at $1.10. 212,527 shares traded hands during mid-day trading, a decline of 40% from the average session volume of 354,176 shares. The stock had previously closed at $1.15.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Hyperfine in a report on Thursday, January 22nd. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Hyperfine presently has an average rating of “Hold” and a consensus price target of $1.28.

Hyperfine Stock Down 4.3%

The company has a market cap of $106.89 million, a PE ratio of -2.12 and a beta of 1.09. The stock’s 50 day simple moving average is $1.10 and its two-hundred day simple moving average is $1.21.

Institutional Investors Weigh In On Hyperfine

Institutional investors have recently added to or reduced their stakes in the company. State Street Corp raised its holdings in shares of Hyperfine by 6.1% in the 4th quarter. State Street Corp now owns 265,195 shares of the company’s stock worth $260,000 after purchasing an additional 15,200 shares during the period. Sanctuary Advisors LLC raised its holdings in Hyperfine by 130.9% in the fourth quarter. Sanctuary Advisors LLC now owns 39,938 shares of the company’s stock valued at $39,000 after buying an additional 22,638 shares during the period. XTX Topco Ltd lifted its position in Hyperfine by 47.9% during the fourth quarter. XTX Topco Ltd now owns 80,735 shares of the company’s stock valued at $79,000 after buying an additional 26,165 shares in the last quarter. Tortoise Investment Management LLC grew its stake in Hyperfine by 60.0% during the fourth quarter. Tortoise Investment Management LLC now owns 72,000 shares of the company’s stock worth $71,000 after buying an additional 27,000 shares during the period. Finally, EP Wealth Advisors LLC acquired a new stake in shares of Hyperfine in the fourth quarter worth $34,000. Hedge funds and other institutional investors own 15.03% of the company’s stock.

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.