HeartSciences Inc. (NASDAQ:HSCS) Sees Large Decline in Short Interest

HeartSciences Inc. (NASDAQ:HSCS) was the recipient of a large drop in short interest during the month of February. As of February 13th, there was short interest totaling 29,772 shares, a drop of 28.5% from the January 29th total of 41,615 shares. Based on an average daily trading volume, of 20,331 shares, the short-interest ratio is currently 1.5 days. Approximately 1.0% of the shares of the company are sold short. Approximately 1.0% of the shares of the company are sold short. Based on an average daily trading volume, of 20,331 shares, the short-interest ratio is currently 1.5 days.

Hedge Funds Weigh In On HeartSciences

A number of institutional investors have recently made changes to their positions in HSCS. Geode Capital Management LLC purchased a new stake in shares of HeartSciences in the second quarter valued at $43,000. TFB Advisors LLC acquired a new position in HeartSciences in the 3rd quarter valued at about $105,000. Finally, DRW Securities LLC raised its stake in HeartSciences by 13.7% in the 4th quarter. DRW Securities LLC now owns 95,065 shares of the company’s stock valued at $294,000 after purchasing an additional 11,455 shares during the last quarter. 17.24% of the stock is owned by institutional investors and hedge funds.

HeartSciences Price Performance

HSCS traded down $0.04 during trading on Tuesday, reaching $2.62. 6,154 shares of the stock were exchanged, compared to its average volume of 26,038. The company has a market capitalization of $8.33 million, a price-to-earnings ratio of -0.38 and a beta of 2.53. HeartSciences has a 1 year low of $2.01 and a 1 year high of $6.47. The business’s 50 day moving average price is $3.07 and its two-hundred day moving average price is $3.12.

HeartSciences (NASDAQ:HSCS) last announced its quarterly earnings results on Monday, December 15th. The company reported ($0.85) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.90) by $0.05. The business had revenue of $2.42 million during the quarter, compared to analysts’ expectations of $0.00 million. On average, analysts anticipate that HeartSciences will post -10.01 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on HSCS. Weiss Ratings reissued a “sell (e+)” rating on shares of HeartSciences in a report on Monday, December 29th. Ascendiant Capital Markets increased their target price on HeartSciences from $9.00 to $9.20 and gave the stock a “buy” rating in a research note on Monday, December 22nd. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $9.20.

About HeartSciences

HeartSciences, Inc (NASDAQ: HSCS) is a medical device company focused on the development and commercialization of advanced, non?invasive cardiac diagnostic technologies. The company’s flagship product, MyoVista, is a high?fidelity electrocardiograph (ECG) designed to detect subtle changes in cardiac function that may indicate myocardial ischemia or left ventricular dysfunction. By leveraging high?frequency wavelet analysis within the QRS complex, MyoVista provides clinicians with enhanced visualization and analytical capabilities that extend beyond those of standard ECG systems.

HeartSciences supports the MyoVista system with an integrated software suite that automates data analysis and report generation, facilitating seamless integration into existing clinical workflows.