Hyperfine, Inc. (NASDAQ:HYPR) Sees Large Growth in Short Interest

Hyperfine, Inc. (NASDAQ:HYPR) was the target of a large increase in short interest in the month of December. As of December 31st, there was short interest totaling 854,005 shares, an increase of 29.5% from the December 15th total of 659,270 shares. Based on an average daily trading volume, of 687,679 shares, the days-to-cover ratio is currently 1.2 days. Currently, 1.3% of the company’s stock are short sold. Currently, 1.3% of the company’s stock are short sold. Based on an average daily trading volume, of 687,679 shares, the days-to-cover ratio is currently 1.2 days.

Hyperfine Stock Down 1.6%

Hyperfine stock traded down $0.02 during midday trading on Friday, hitting $1.20. 435,180 shares of the stock were exchanged, compared to its average volume of 536,989. Hyperfine has a 52-week low of $0.53 and a 52-week high of $2.22. The business’s 50-day moving average price is $1.04 and its 200-day moving average price is $1.18. The stock has a market capitalization of $116.60 million, a price-to-earnings ratio of -2.31 and a beta of 1.09.

Hyperfine (NASDAQ:HYPR) last posted its earnings results on Thursday, November 13th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.01). Hyperfine had a negative return on equity of 97.95% and a negative net margin of 378.17%.The firm had revenue of $3.44 million for the quarter, compared to the consensus estimate of $3.51 million. On average, sell-side analysts predict that Hyperfine will post -0.57 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

HYPR has been the topic of a number of research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Hyperfine in a research report on Wednesday, October 8th. Wall Street Zen upgraded shares of Hyperfine from a “sell” rating to a “hold” rating in a research note on Saturday, October 25th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $1.28.

Institutional Investors Weigh In On Hyperfine

Several large investors have recently made changes to their positions in the business. Kathmere Capital Management LLC purchased a new position in shares of Hyperfine in the 4th quarter worth about $51,000. Tortoise Investment Management LLC bought a new position in Hyperfine during the third quarter valued at $65,000. Finally, Vanguard Group Inc. grew its holdings in Hyperfine by 5.7% during the third quarter. Vanguard Group Inc. now owns 3,511,972 shares of the company’s stock valued at $5,092,000 after purchasing an additional 190,136 shares during the period. 15.03% of the stock is owned by hedge funds and other institutional investors.

About Hyperfine

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.