HeartSciences Inc. (NASDAQ:HSCS) Sees Large Growth in Short Interest

HeartSciences Inc. (NASDAQ:HSCS) was the target of a large growth in short interest during the month of October. As of October 15th, there was short interest totaling 63,146 shares, a growth of 126.1% from the September 30th total of 27,931 shares. Based on an average daily volume of 332,122 shares, the short-interest ratio is currently 0.2 days. Currently, 1.3% of the shares of the stock are short sold.

HeartSciences Price Performance

Shares of HSCS opened at $3.31 on Friday. The company’s fifty day moving average price is $3.61 and its 200-day moving average price is $2.73. The firm has a market capitalization of $16.45 million, a PE ratio of -1.03 and a beta of 1.76. HeartSciences has a 1-year low of $1.63 and a 1-year high of $5.25.

HeartSciences (NASDAQ:HSCS) last posted its earnings results on Monday, September 14th. The company reported ($0.86) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.72) by ($0.14). The company had revenue of $0.00 million for the quarter, compared to analysts’ expectations of $0.10 million. As a group, research analysts anticipate that HeartSciences will post -2.99 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of HeartSciences in a research note on Monday, September 21st. Wall Street Zen upgraded HeartSciences from a “sell” rating to a “hold” rating in a report on Sunday, September 20th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $8.00.

About HeartSciences

HeartSciences, Inc (NASDAQ: HSCS) is a medical technology company focused on improving the detection and assessment of heart disease through advanced electrocardiography (ECG). The company develops diagnostic tools designed to provide clinicians with additional information about cardiac function using a standard, noninvasive ECG test.

Its principal technology is the MyoVista ECG system, which uses the company’s proprietary wavelet-based ECG, or wavECG, technology. MyoVista is designed to assess mechanical aspects of the heart, including left ventricular diastolic function, which may help identify cardiac abnormalities that are not readily detected through conventional ECG analysis.