Talkspace (NASDAQ:TALK) Shares Down 0.3%

Talkspace, Inc. (NASDAQ:TALK)’s stock price fell 0.3% on Thursday . The company traded as low as $2.97 and last traded at $3.06. 163,073 shares were traded during mid-day trading, a decline of 87% from the average session volume of 1,236,833 shares. The stock had previously closed at $3.07.

Wall Street Analyst Weigh In

A number of research firms recently commented on TALK. Barclays lifted their target price on shares of Talkspace from $2.50 to $3.00 and gave the stock an “equal weight” rating in a research note on Friday, February 23rd. TheStreet upgraded shares of Talkspace from a “d” rating to a “c-” rating in a research note on Thursday, February 22nd.

Talkspace Stock Performance

The business’s 50 day moving average is $3.20 and its 200 day moving average is $2.52. The company has a market capitalization of $526.97 million, a price-to-earnings ratio of -26.00 and a beta of 1.26.

Talkspace (NASDAQ:TALK) last released its earnings results on Thursday, February 22nd. The company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.03. Talkspace had a negative net margin of 12.78% and a negative return on equity of 16.06%. The company had revenue of $42.42 million during the quarter, compared to analysts’ expectations of $38.30 million. During the same period last year, the business earned ($0.08) EPS. Sell-side analysts predict that Talkspace, Inc. will post -0.03 EPS for the current year.

Hedge Funds Weigh In On Talkspace

Institutional investors have recently bought and sold shares of the business. Citigroup Inc. raised its position in Talkspace by 53,648.1% during the 3rd quarter. Citigroup Inc. now owns 43,536 shares of the company’s stock worth $85,000 after buying an additional 43,455 shares during the last quarter. Bank of New York Mellon Corp raised its position in Talkspace by 65.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 61,167 shares of the company’s stock worth $119,000 after buying an additional 24,185 shares during the last quarter. EAM Investors LLC purchased a new position in Talkspace during the 3rd quarter worth approximately $1,787,000. Potomac Capital Management Inc. purchased a new position in Talkspace during the 3rd quarter worth approximately $108,000. Finally, Advisory Alpha LLC purchased a new position in Talkspace during the 3rd quarter worth approximately $48,000. 57.37% of the stock is owned by hedge funds and other institutional investors.

About Talkspace

Talkspace, Inc operates as a virtual behavioral healthcare company in the United States. The company offers psychotherapy and psychiatry services through its platform to individuals, enterprises, and health plans and employee assistance programs. It provides text, audio, and video-based psychotherapy from licensed therapists.