Hyperfine (NASDAQ:HYPR) Trading Down 1.1%

Shares of Hyperfine, Inc. (NASDAQ:HYPR) dropped 1.1% during trading on Wednesday . The company traded as low as $0.80 and last traded at $0.81. Approximately 69,428 shares changed hands during mid-day trading, a decline of 2% from the average daily volume of 70,499 shares. The stock had previously closed at $0.82.

Analyst Ratings Changes

Separately, Wells Fargo & Company decreased their price target on shares of Hyperfine from $2.10 to $1.60 and set an “equal weight” rating for the company in a research note on Friday, March 22nd.

Hyperfine Price Performance

The firm has a market capitalization of $60.80 million, a P/E ratio of -1.36 and a beta of 0.75. The stock’s fifty day simple moving average is $1.03 and its 200 day simple moving average is $1.16.

Hyperfine (NASDAQ:HYPR) last released its quarterly earnings results on Thursday, March 21st. The company reported ($0.15) EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.02. The company had revenue of $2.69 million during the quarter, compared to analysts’ expectations of $3.66 million. Hyperfine had a negative return on equity of 44.89% and a negative net margin of 401.00%. As a group, sell-side analysts forecast that Hyperfine, Inc. will post -0.53 EPS for the current fiscal year.

Institutional Trading of Hyperfine

A number of institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp increased its stake in Hyperfine by 304.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 219,582 shares of the company’s stock valued at $450,000 after purchasing an additional 165,269 shares in the last quarter. Journey Strategic Wealth LLC acquired a new position in shares of Hyperfine in the 4th quarter valued at $84,000. Signaturefd LLC purchased a new position in Hyperfine in the 3rd quarter worth $102,000. EP Wealth Advisors LLC purchased a new position in Hyperfine in the 3rd quarter worth $71,000. Finally, Knollwood Investment Advisory LLC acquired a new stake in Hyperfine during the 3rd quarter worth about $41,000. 15.03% of the stock is currently owned by institutional investors and hedge funds.

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.