Yes, although only in rare circumstances.
In Analytics, "Visitors" tracks unique traffic while "Hits" tracks all traffic.
However, the two differ in terms of how they treat long term viewing. For example, if 8 visitors come in at 9AM they may hit the player several times (refresh the page, etc). In this example below those 8 visitors lead to a total number of hits of 13.
Now let's say that all 8 of those visitors watch for over an hour and we gain +2 visitors in the next hour. So by 10 AM we now have a total of 10 visitors. However, let's say that only 6 of our recurring visitors refresh their page, which would count as a hit. If that was the case, and we gained 2 visitors, our visits would be 10 and our total hits would be 8.
This scenario is rare, but can happen. It would indicate a very dedicated audience. In general experience, though, hits almost always exceed visitors.