Hyperfine, Inc. (NASDAQ:HYPR) Sees Significant Increase in Short Interest
by Scott Moore · The Cerbat GemHyperfine, Inc. (NASDAQ:HYPR – Get Free Report) saw a large growth in short interest in the month of January. As of January 15th, there was short interest totaling 1,250,028 shares, a growth of 46.4% from the December 31st total of 854,005 shares. Currently, 1.9% of the shares of the stock are short sold. 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 short sold.
Analyst Upgrades and Downgrades
Several research firms have weighed in on HYPR. Wall Street Zen upgraded Hyperfine from a “sell” rating to a “hold” rating in a report on Saturday, October 25th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Hyperfine in a report on Thursday, January 22nd. Two 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 data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $1.28.
Read Our Latest Report on Hyperfine
Hedge Funds Weigh In On Hyperfine
Institutional investors have recently added to or reduced their stakes in the stock. Sanctuary Advisors LLC raised its position 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 purchasing an additional 22,638 shares during the period. Kathmere Capital Management LLC acquired a new stake in Hyperfine in the 4th quarter valued at about $51,000. Tortoise Investment Management LLC purchased a new position in Hyperfine in the third quarter worth approximately $65,000. Finally, Vanguard Group Inc. increased its holdings in Hyperfine by 5.7% in the third quarter. Vanguard Group Inc. now owns 3,511,972 shares of the company’s stock valued at $5,092,000 after buying an additional 190,136 shares during the last quarter. Hedge funds and other institutional investors own 15.03% of the company’s stock.
Hyperfine Stock Performance
Shares of HYPR opened at $1.16 on Tuesday. The stock has a 50-day moving average of $1.07 and a two-hundred day moving average of $1.21. The stock has a market cap of $112.72 million, a P/E ratio of -2.23 and a beta of 1.09. Hyperfine has a one year low of $0.53 and a one year high of $2.22.
Hyperfine (NASDAQ:HYPR – Get Free Report) last issued its earnings results on Thursday, November 13th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01). The company had revenue of $3.44 million during the quarter, compared to analysts’ expectations of $3.51 million. Hyperfine had a negative return on equity of 97.95% and a negative net margin of 378.17%. Analysts predict that Hyperfine will post -0.57 EPS for the current fiscal 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.