Wells Fargo & Company Boosts Hyperfine (NASDAQ:HYPR) Price Target to $1.29

Hyperfine (NASDAQ:HYPR) had its price target raised by equities researchers at Wells Fargo & Company from $1.10 to $1.29 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price would suggest a potential upside of 34.94% from the stock’s previous close.

Hyperfine Stock Down 25.3 %

HYPR opened at $0.96 on Tuesday. Hyperfine has a 52-week low of $0.76 and a 52-week high of $1.90. The firm has a market capitalization of $69.74 million, a P/E ratio of -1.69 and a beta of 0.94. The firm’s 50 day moving average is $1.07 and its 200-day moving average is $1.01.

Hyperfine (NASDAQ:HYPR) last announced its earnings results on Monday, March 17th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.02. Hyperfine had a negative return on equity of 57.54% and a negative net margin of 309.42%. The company had revenue of $2.32 million for the quarter, compared to analyst estimates of $2.30 million. During the same period in the prior year, the company posted ($0.15) EPS. Equities analysts expect that Hyperfine will post -0.57 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Hyperfine

A number of institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC grew its position in shares of Hyperfine by 18.7% in 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 in the last quarter. Renaissance Technologies LLC lifted its holdings in Hyperfine by 32.9% in the fourth quarter. Renaissance Technologies LLC now owns 212,300 shares of the company’s stock worth $187,000 after acquiring an additional 52,500 shares during the last quarter. Graypoint LLC acquired a new position in Hyperfine during the 4th quarter valued at approximately $44,000. Wealth Enhancement Advisory Services LLC increased its position in 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 buying an additional 32,093 shares during the period. Finally, Virtu Financial LLC bought a new stake in Hyperfine in the fourth quarter valued at $25,000. Institutional investors and hedge funds own 15.03% of the company’s stock.

About Hyperfine

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.