HeartCore Enterprises (NASDAQ:HTCR) Shares Down 3.2% – Here’s Why

Shares of HeartCore Enterprises, Inc. (NASDAQ:HTCR) fell 3.2% on Wednesday . The company traded as low as $2.97 and last traded at $2.98. Approximately 46,917 shares changed hands during trading, an increase of 20% from the average daily volume of 39,152 shares. The stock had previously closed at $3.08.

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut HeartCore Enterprises from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, April 24th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Reduce”.

HeartCore Enterprises Price Performance

The stock has a market capitalization of $4.44 million, a PE ratio of -1.34 and a beta of 1.62. The business’s 50-day moving average price is $3.14 and its 200 day moving average price is $4.41. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.17 and a current ratio of 1.17.

HeartCore Enterprises (NASDAQ:HTCR) last issued its quarterly earnings data on Friday, May 15th. The company reported ($1.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($1.46). The company had revenue of $1.25 million during the quarter, compared to the consensus estimate of $5.50 million.

Hedge Funds Weigh In On HeartCore Enterprises

A number of institutional investors have recently made changes to their positions in the stock. XTX Topco Ltd bought a new stake in HeartCore Enterprises in the fourth quarter worth $28,000. Board of Trustees of The Leland Stanford Junior University bought a new position in shares of HeartCore Enterprises during the fourth quarter valued at about $30,000. Jane Street Group LLC increased its holdings in shares of HeartCore Enterprises by 85.7% in the fourth quarter. Jane Street Group LLC now owns 113,176 shares of the company’s stock worth $35,000 after buying an additional 52,217 shares during the period. Finally, Virtu Financial LLC increased its holdings in shares of HeartCore Enterprises by 306.7% in the third quarter. Virtu Financial LLC now owns 44,829 shares of the company’s stock worth $36,000 after buying an additional 33,807 shares during the period. Institutional investors own 1.71% of the company’s stock.

About HeartCore Enterprises

HeartCore Enterprises, Inc, a software development company, provides Software as a Service solutions to enterprise customers in Japan and internationally. Its customer experience management platform includes marketing, sales, service, and content management systems, as well as other tools and integrations, which enable companies to enhance the customer experience and drive engagement. The company also operates a digital transformation business that offers customers with robotics process automation, process mining, and task mining to accelerate the digital transformation of enterprises.