Hyperfine (NASDAQ:HYPR) Given New $1.20 Price Target at B. Riley

Hyperfine (NASDAQ:HYPR) had its price objective cut by B. Riley from $1.50 to $1.20 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. B. Riley’s price objective indicates a potential upside of 41.08% from the company’s previous close.

Separately, Wells Fargo & Company upped their price target on Hyperfine from $1.10 to $1.29 and gave the company an “equal weight” rating in a research report on Tuesday.

Hyperfine Stock Performance

NASDAQ HYPR opened at $0.85 on Thursday. The company has a market capitalization of $62.05 million, a PE ratio of -1.49 and a beta of 0.94. Hyperfine has a 52-week low of $0.76 and a 52-week high of $1.90. The company has a 50-day simple moving average of $1.07 and a 200 day simple moving average of $1.01.

Hyperfine (NASDAQ:HYPR) last issued its quarterly earnings results on Monday, March 17th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.02. Hyperfine had a negative net margin of 309.42% and a negative return on equity of 57.54%. The company had revenue of $2.32 million during the quarter, compared to analyst estimates of $2.30 million. During the same quarter last year, the business posted ($0.15) EPS. As a group, analysts forecast that Hyperfine will post -0.57 EPS for the current fiscal year.

Institutional Trading of Hyperfine

A number of institutional investors have recently modified their holdings of the business. Virtu Financial LLC bought a new stake in Hyperfine during the 4th quarter valued at $25,000. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Hyperfine by 64.3% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 82,008 shares of the company’s stock worth $72,000 after acquiring an additional 32,093 shares during the period. Graypoint LLC purchased a new position in shares of Hyperfine in the fourth quarter valued at $44,000. Renaissance Technologies LLC raised its stake in shares of Hyperfine by 32.9% during the 4th quarter. Renaissance Technologies LLC now owns 212,300 shares of the company’s stock valued at $187,000 after purchasing an additional 52,500 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Hyperfine by 18.7% during the 3rd quarter. Geode Capital Management LLC now owns 624,520 shares of the company’s stock worth $675,000 after purchasing an additional 98,335 shares in the last quarter. 15.03% of the stock is currently owned by hedge funds and other 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.