Short Interest in HeartSciences Inc. (NASDAQ:HSCS) Declines By 18.2%

HeartSciences Inc. (NASDAQ:HSCS) was the target of a significant drop in short interest in the month of April. As of April 15th, there was short interest totaling 28,778 shares, a drop of 18.2% from the March 31st total of 35,192 shares. Currently, 1.0% of the company’s stock are sold short. Based on an average daily trading volume, of 14,161 shares, the days-to-cover ratio is currently 2.0 days.

Analyst Ratings Changes

Several equities analysts have commented on HSCS shares. Ascendiant Capital Markets lowered their price objective on HeartSciences from $9.00 to $8.00 and set a “buy” rating for the company in a research report on Tuesday, March 24th. Weiss Ratings reissued a “sell (e+)” rating on shares of HeartSciences in a research report on Friday, March 27th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $8.00.

Hedge Funds Weigh In On HeartSciences

Large investors have recently modified their holdings of the stock. Geode Capital Management LLC purchased a new position in shares of HeartSciences in the 2nd quarter worth about $43,000. TFB Advisors LLC bought a new stake in HeartSciences in the 3rd quarter worth about $105,000. Finally, DRW Securities LLC increased its holdings in HeartSciences by 13.7% in the 4th quarter. DRW Securities LLC now owns 95,065 shares of the company’s stock worth $294,000 after buying an additional 11,455 shares in the last quarter. Hedge funds and other institutional investors own 17.24% of the company’s stock.

HeartSciences Stock Up 2.1%

Shares of HSCS traded up $0.04 during trading hours on Friday, hitting $1.99. The company had a trading volume of 5,915 shares, compared to its average volume of 25,872. The firm has a fifty day moving average price of $2.38 and a 200-day moving average price of $2.77. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.04 and a current ratio of 1.19. The stock has a market capitalization of $6.33 million, a price-to-earnings ratio of -0.40 and a beta of 2.03. HeartSciences has a 52-week low of $1.89 and a 52-week high of $6.47.

HeartSciences (NASDAQ:HSCS) last posted its quarterly earnings results on Thursday, March 12th. The company reported ($0.63) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.84) by $0.21. On average, equities research analysts forecast that HeartSciences will post -3.28 EPS for the current fiscal year.

HeartSciences Company Profile

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.