Talkspace (NASDAQ:TALK) Trading Down 3.2%

Talkspace, Inc. (NASDAQ:TALK) traded down 3.2% during trading on Wednesday . The company traded as low as $3.02 and last traded at $3.04. 187,838 shares traded hands during trading, a decline of 85% from the average session volume of 1,244,306 shares. The stock had previously closed at $3.14.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on TALK shares. Barclays raised their price target on shares of Talkspace from $2.50 to $3.00 and gave the company an “equal weight” rating in a report on Friday, February 23rd. TheStreet raised Talkspace from a “d” rating to a “c-” rating in a research report on Thursday, February 22nd.

Talkspace Trading Up 0.3 %

The company has a market capitalization of $520.21 million, a price-to-earnings ratio of -25.66 and a beta of 1.26. The stock has a 50-day simple moving average of $3.19 and a 200-day simple moving average of $2.52.

Talkspace (NASDAQ:TALK) last posted its quarterly earnings data on Thursday, February 22nd. The company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.03. The firm had revenue of $42.42 million for the quarter, compared to the consensus estimate 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 period in the prior year, the firm posted ($0.08) EPS. On average, research analysts forecast that Talkspace, Inc. will post -0.03 EPS for the current year.

Institutional Trading of Talkspace

Institutional investors and hedge funds have recently bought and sold shares of the company. Advisory Alpha LLC bought a new stake in shares of Talkspace in the 3rd quarter valued at approximately $48,000. Citigroup Inc. increased its stake in Talkspace by 53,648.1% during the third quarter. Citigroup Inc. now owns 43,536 shares of the company’s stock valued at $85,000 after purchasing an additional 43,455 shares during the last quarter. Potomac Capital Management Inc. acquired a new stake in shares of Talkspace during the third quarter worth $108,000. Bank of New York Mellon Corp lifted its position in shares of Talkspace by 65.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 61,167 shares of the company’s stock worth $119,000 after buying an additional 24,185 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC acquired a new position in shares of Talkspace in the 1st quarter valued at about $132,000. Institutional investors and hedge funds own 57.37% of the company’s stock.

Talkspace Company Profile

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.