Talkspace (NASDAQ:TALK) Reaches New 12-Month High – Here’s Why

Talkspace, Inc. (NASDAQ:TALK) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $4.95 and last traded at $4.9280, with a volume of 1228056 shares traded. The stock had previously closed at $3.93.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. KeyCorp boosted their price target on Talkspace from $4.00 to $5.00 and gave the company an “overweight” rating in a research report on Thursday, January 8th. Wall Street Zen upgraded Talkspace from a “hold” rating to a “buy” rating in a report on Saturday, January 10th. Barclays assumed coverage on Talkspace in a research report on Monday, December 8th. They set an “equal weight” rating and a $3.50 price objective for the company. Weiss Ratings reiterated a “hold (c-)” rating on shares of Talkspace in a research note on Monday, December 29th. Finally, Zacks Research raised shares of Talkspace from a “strong sell” rating to a “hold” rating in a research report on Friday, October 31st. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $4.88.

Talkspace Trading Up 25.8%

The firm’s 50 day simple moving average is $3.80 and its 200-day simple moving average is $3.18. The stock has a market capitalization of $819.19 million, a price-to-earnings ratio of 165.56 and a beta of 1.20.

Institutional Trading of Talkspace

A number of large investors have recently added to or reduced their stakes in TALK. Beartown Capital Management LLC acquired a new stake in Talkspace during the fourth quarter worth approximately $1,089,000. XTX Topco Ltd raised its position in Talkspace by 121.1% during the fourth quarter. XTX Topco Ltd now owns 132,409 shares of the company’s stock valued at $481,000 after purchasing an additional 72,512 shares in the last quarter. nVerses Capital LLC bought a new stake in shares of Talkspace during the 4th quarter worth $66,000. Stoic Point Capital Management LLC acquired a new stake in Talkspace in the fourth quarter valued at approximately $7,554,000. Finally, Toronto Dominion Bank bought a new position in shares of Talkspace in the 4th quarter valued at $363,000. Institutional investors and hedge funds own 57.37% of the company’s stock.

About Talkspace

Talkspace, Inc (NASDAQ:TALK) is a digital mental health company that provides online therapy and psychiatry services through a secure, cloud-based platform. Headquartered in New York City, Talkspace enables individuals and couples to connect with licensed therapists and psychiatrists via text messaging, live audio, and video sessions. The company’s platform is accessible through web and mobile applications, allowing clients to seek professional support anytime and from any location with an internet connection.

The company’s core offerings include therapy plans that range from unlimited text-based messaging with a dedicated therapist to scheduled live video sessions.