Hyperfine (NASDAQ:HYPR) Posts Earnings Results, Beats Estimates By $0.03 EPS

Hyperfine (NASDAQ:HYPR) issued its quarterly earnings data on Wednesday. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.03, reports. The company had revenue of $5.29 million during the quarter, compared to analyst estimates of $5.30 million. Hyperfine had a negative return on equity of 97.95% and a negative net margin of 378.17%.

Hyperfine Stock Performance

Shares of Hyperfine stock traded down $0.03 on Wednesday, hitting $1.27. 1,275,448 shares of the company’s stock were exchanged, compared to its average volume of 477,691. Hyperfine has a 1 year low of $0.53 and a 1 year high of $2.22. The stock has a market capitalization of $123.41 million, a PE ratio of -2.44 and a beta of 1.09. The company has a 50-day simple moving average of $1.14 and a 200-day simple moving average of $1.20.

Institutional Trading of Hyperfine

Several hedge funds have recently bought and sold shares of HYPR. Vanguard Group Inc. lifted its position 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 last quarter. Geode Capital Management LLC increased its stake in Hyperfine by 21.4% during the fourth quarter. Geode Capital Management LLC now owns 815,986 shares of the company’s stock worth $799,000 after acquiring an additional 143,975 shares during the last quarter. Renaissance Technologies LLC raised its position in Hyperfine by 674.4% during the fourth quarter. Renaissance Technologies LLC now owns 364,743 shares of the company’s stock valued at $357,000 after purchasing an additional 317,645 shares during the period. State Street Corp raised its position in Hyperfine by 6.1% during the fourth quarter. State Street Corp now owns 265,195 shares of the company’s stock valued at $260,000 after purchasing an additional 15,200 shares during the period. Finally, Walleye Capital LLC bought a new stake in shares of Hyperfine in the 4th quarter valued at approximately $212,000. Hedge funds and other institutional investors own 15.03% of the company’s stock.

Analyst Ratings Changes

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

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.