Talkspace (NASDAQ:TALK) Trading Down 4.6%

Talkspace, Inc. (NASDAQ:TALK) traded down 4.6% during mid-day trading on Monday . The company traded as low as $3.32 and last traded at $3.32. 581,575 shares were traded during mid-day trading, a decline of 53% from the average session volume of 1,234,781 shares. The stock had previously closed at $3.48.

Analysts Set New Price Targets

A number of research analysts have issued reports on TALK shares. Barclays increased their target price on shares of Talkspace from $2.50 to $3.00 and gave the stock an “equal weight” rating in a research report on Friday, February 23rd. TheStreet upgraded shares of Talkspace from a “d” rating to a “c-” rating in a research note on Thursday, February 22nd.

Talkspace Price Performance

The firm has a 50-day simple moving average of $3.09 and a 200 day simple moving average of $2.47.

Talkspace (NASDAQ:TALK) last issued its quarterly earnings data on Thursday, February 22nd. The company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.03. The company had revenue of $42.42 million for the quarter, compared to analysts’ expectations of $38.30 million. Talkspace had a negative net margin of 12.78% and a negative return on equity of 16.06%. During the same quarter in the previous year, the firm posted ($0.08) earnings per share. On average, equities research analysts anticipate that Talkspace, Inc. will post -0.03 EPS for the current fiscal year.

Institutional Investors Weigh In On Talkspace

Several institutional investors and hedge funds have recently made changes to their positions in TALK. Pathstone Holdings LLC bought a new stake in Talkspace in the fourth quarter valued at approximately $27,000. LPL Financial LLC bought a new stake in shares of Talkspace in the 3rd quarter valued at $26,000. Prelude Capital Management LLC acquired a new stake in shares of Talkspace during the fourth quarter worth $47,000. Advisory Alpha LLC acquired a new stake in shares of Talkspace during the third quarter worth $48,000. Finally, WINTON GROUP Ltd bought a new position in Talkspace during the second quarter worth $32,000. Institutional investors and hedge funds own 57.37% of the company’s stock.

About Talkspace

Talkspace, Inc operates as a virtual behavioral healthcare company in the United States. The company offers psychotherapy and psychiatry services through its platform to individuals, enterprises, and health plans and employee assistance programs. It provides text, audio, and video-based psychotherapy from licensed therapists.