Hyperfine, Inc. (NASDAQ:HYPR – Get Free Report)’s share price fell 1.1% during mid-day trading on Wednesday . The stock traded as low as $0.80 and last traded at $0.81. Approximately 69,428 shares changed hands during trading, a decline of 2% from the average session volume of 70,499 shares. The stock had previously closed at $0.82.
Analyst Upgrades and Downgrades
Separately, Wells Fargo & Company lowered their target price 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.
View Our Latest Stock Report on Hyperfine
Hyperfine Price Performance
Hyperfine (NASDAQ:HYPR – Get Free Report) last released its quarterly earnings data on Thursday, March 21st. The company reported ($0.15) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.02. Hyperfine had a negative net margin of 401.00% and a negative return on equity of 44.89%. The company had revenue of $2.69 million for the quarter, compared to analysts’ expectations of $3.66 million. As a group, equities analysts anticipate that Hyperfine, Inc. will post -0.53 EPS for the current fiscal year.
Hedge Funds Weigh In On Hyperfine
Several large investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp increased its position in shares of Hyperfine by 304.3% during the third quarter. Bank of New York Mellon Corp now owns 219,582 shares of the company’s stock worth $450,000 after purchasing an additional 165,269 shares in the last quarter. Signaturefd LLC acquired a new position in Hyperfine during the third quarter worth approximately $102,000. Knollwood Investment Advisory LLC purchased a new stake in Hyperfine in the third quarter valued at approximately $41,000. EP Wealth Advisors LLC purchased a new stake in Hyperfine in the third quarter valued at approximately $71,000. Finally, Citigroup Inc. purchased a new position in shares of Hyperfine during the third quarter worth approximately $29,000. Institutional investors and hedge funds own 15.03% of the company’s stock.
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.
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