Hyperfine, Inc. (NASDAQ:HYPR – Get Rating) saw a significant drop in short interest during the month of December. As of December 30th, there was short interest totalling 2,660,000 shares, a drop of 10.1% from the December 15th total of 2,960,000 shares. Currently, 5.5% of the shares of the company are short sold. Based on an average daily volume of 278,500 shares, the days-to-cover ratio is presently 9.6 days.
Hyperfine Trading Up 5.6 %
HYPR stock opened at $0.95 on Friday. The firm has a 50 day moving average of $0.84 and a 200-day moving average of $1.12. Hyperfine has a 12-month low of $0.68 and a 12-month high of $5.20.
Get Hyperfine alerts:Hyperfine (NASDAQ:HYPR – Get Rating) last posted its quarterly earnings results on Thursday, November 10th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.26) by $0.07. Hyperfine had a negative net margin of 1,479.40% and a negative return on equity of 54.01%. The company had revenue of $2.35 million during the quarter, compared to the consensus estimate of $1.60 million. Sell-side analysts forecast that Hyperfine will post -1.1 earnings per share for the current fiscal year.
Insiders Place Their Bets
In related news, CMO Khan Siddiqui sold 1,039 shares of the firm's stock in a transaction dated Wednesday, November 16th. The stock was sold at an average price of $84.00, for a total transaction of $87,276.00. Following the transaction, the chief marketing officer now owns 85,080 shares of the company's stock, valued at $7,146,720. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Hyperfine news, Director Jonathan M. Rothberg acquired 47,007 shares of the stock in a transaction on Tuesday, November 29th. The shares were bought at an average price of $0.72 per share, with a total value of $33,845.04. Following the acquisition, the director now owns 656,492 shares of the company's stock, valued at $472,674.24. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CMO Khan Siddiqui sold 1,039 shares of Hyperfine stock in a transaction that occurred on Wednesday, November 16th. The shares were sold at an average price of $84.00, for a total value of $87,276.00. Following the completion of the sale, the chief marketing officer now directly owns 85,080 shares in the company, valued at approximately $7,146,720. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 86,495 shares of company stock valued at $69,289 and have sold 5,161 shares valued at $90,738. Corporate insiders own 26.11% of the company's stock.Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of HYPR. Security Benefit Life Insurance Co. KS acquired a new position in shares of Hyperfine during the 3rd quarter worth approximately $2,025,000. Vanguard Group Inc. acquired a new position in Hyperfine in the 1st quarter valued at $6,237,000. Alphabet Inc. acquired a new position in Hyperfine in the 3rd quarter valued at $728,000. BlackRock Inc. acquired a new position in Hyperfine in the 1st quarter valued at $2,042,000. Finally, State Street Corp acquired a new position in Hyperfine in the 1st quarter valued at $378,000. 27.65% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Separately, B. Riley began coverage on Hyperfine in a report on Tuesday, October 4th. They issued a "buy" rating and a $3.50 price objective on the stock.
About Hyperfine
(Get Rating)
Hyperfine, Inc, a medical device company, provides magnetic resonance imaging (MRI) products. The company's products include Swoop Portable MR imaging system, which offers neuroimaging at the point of care, as well as informs the timely diagnosis and treatment of acute conditions in a wide range of clinical settings.
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