HeartCore Enterprises (NASDAQ:HTCR) Posts Quarterly Earnings Results, Misses Expectations By $1.85 EPS

HeartCore Enterprises (NASDAQ:HTCR) announced its quarterly earnings results on Thursday. The company reported ($1.45) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($1.85), FiscalAI reports. The firm had revenue of ($0.69) million for the quarter, compared to analyst estimates of $6.20 million.

HeartCore Enterprises Trading Down 8.6%

NASDAQ HTCR traded down $0.23 during trading hours on Thursday, reaching $2.46. The company had a trading volume of 27,519 shares, compared to its average volume of 35,065. The stock has a 50-day moving average of $2.87 and a 200 day moving average of $3.75. HeartCore Enterprises has a 1-year low of $2.01 and a 1-year high of $33.40. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $3.54 million, a P/E ratio of -1.07 and a beta of 1.65.

Institutional Investors Weigh In On HeartCore Enterprises

A number of institutional investors have recently made changes to their positions in the stock. Jane Street Group LLC lifted its holdings in shares of HeartCore Enterprises by 85.7% in the 4th quarter. Jane Street Group LLC now owns 113,176 shares of the company’s stock worth $35,000 after acquiring an additional 52,217 shares during the last quarter. XTX Topco Ltd acquired a new stake in HeartCore Enterprises in the 4th quarter valued at approximately $28,000. Finally, Virtu Financial LLC increased its holdings in HeartCore Enterprises by 306.7% in the 3rd quarter. Virtu Financial LLC now owns 44,829 shares of the company’s stock valued at $36,000 after purchasing an additional 33,807 shares during the last quarter. 1.71% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of HeartCore Enterprises in a research report on Tuesday, July 21st. One equities research 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”.

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.