Short Interest in HeartSciences Inc. (NASDAQ:HSCS) Increases By 160.9%

HeartSciences Inc. (NASDAQ:HSCS) was the target of a large growth in short interest in the month of December. As of December 31st, there was short interest totaling 75,969 shares, a growth of 160.9% from the December 15th total of 29,118 shares. Approximately 2.4% of the shares of the company are sold short. Based on an average daily volume of 73,534 shares, the days-to-cover ratio is currently 1.0 days. Based on an average daily volume of 73,534 shares, the days-to-cover ratio is currently 1.0 days. Approximately 2.4% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Ascendiant Capital Markets increased their price target on shares of HeartSciences from $9.00 to $9.20 and gave the stock a “buy” rating in a report on Monday, December 22nd. Weiss Ratings reissued a “sell (e+)” rating on shares of HeartSciences in a research note on Monday, December 29th. Finally, Wall Street Zen upgraded HeartSciences from a “sell” rating to a “hold” rating in a research note on Friday, October 3rd. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $9.20.

HeartSciences Price Performance

HSCS opened at $3.16 on Friday. The firm’s fifty day simple moving average is $2.79 and its two-hundred day simple moving average is $3.29. HeartSciences has a 52-week low of $2.01 and a 52-week high of $6.47. The company has a market cap of $10.05 million, a price-to-earnings ratio of -0.47 and a beta of 2.52.

HeartSciences (NASDAQ:HSCS) last released its quarterly earnings results on Monday, December 15th. The company reported ($0.85) earnings per share for the quarter, topping the consensus estimate of ($0.90) by $0.05. The company had revenue of $2.42 million for the quarter, compared to analyst estimates of $0.00 million. On average, research analysts forecast that HeartSciences will post -10.01 EPS for the current year.

Hedge Funds Weigh In On HeartSciences

An institutional investor recently bought a new position in HeartSciences stock. Geode Capital Management LLC purchased a new position in shares of HeartSciences Inc. (NASDAQ:HSCS) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 11,599 shares of the company’s stock, valued at approximately $43,000. Geode Capital Management LLC owned approximately 0.51% of HeartSciences as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 17.24% of the company’s stock.

About HeartSciences

HeartSciences, Inc (NASDAQ: HSCS) is a medical device company focused on the development and commercialization of advanced, non?invasive cardiac diagnostic technologies. The company’s flagship product, MyoVista, is a high?fidelity electrocardiograph (ECG) designed to detect subtle changes in cardiac function that may indicate myocardial ischemia or left ventricular dysfunction. By leveraging high?frequency wavelet analysis within the QRS complex, MyoVista provides clinicians with enhanced visualization and analytical capabilities that extend beyond those of standard ECG systems.

HeartSciences supports the MyoVista system with an integrated software suite that automates data analysis and report generation, facilitating seamless integration into existing clinical workflows.