Short Interest in Hyperfine, Inc. (NASDAQ:HYPR) Rises By 59.7%

Hyperfine, Inc. (NASDAQ:HYPR) was the target of a significant increase in short interest in the month of February. As of February 15th, there was short interest totalling 2,140,000 shares, an increase of 59.7% from the January 31st total of 1,340,000 shares. Based on an average trading volume of 301,800 shares, the days-to-cover ratio is currently 7.1 days. Approximately 3.8% of the company’s shares are short sold.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of HYPR. Geode Capital Management LLC lifted its stake in shares of 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 acquiring an additional 98,335 shares during the last quarter. Graypoint LLC bought a new stake in shares of Hyperfine during the fourth quarter worth $44,000. Renaissance Technologies LLC boosted its stake in shares of Hyperfine by 32.9% during the fourth 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, Virtu Financial LLC bought a new position in shares of Hyperfine in the fourth quarter worth about $25,000. Institutional investors own 15.03% of the company’s stock.

Hyperfine Trading Down 4.1 %

Shares of HYPR stock traded down $0.04 during trading hours on Monday, reaching $0.93. 269,735 shares of the stock were exchanged, compared to its average volume of 421,781. The firm has a market capitalization of $67.84 million, a price-to-earnings ratio of -1.63 and a beta of 0.92. Hyperfine has a 12-month low of $0.76 and a 12-month high of $1.90. The company’s 50-day moving average price is $1.06 and its 200-day moving average price is $1.01.

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.