Talkspace (NASDAQ:TALK) Reaches New 52-Week High – Time to Buy?

Shares of Talkspace, Inc. (NASDAQ:TALK) hit a new 52-week high during trading on Monday . The stock traded as high as $5.24 and last traded at $5.2350, with a volume of 100741 shares traded. The stock had previously closed at $5.23.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut shares of Talkspace from a “hold (c)” rating to a “sell (d+)” rating in a research report on Tuesday, May 12th. One analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $5.56.

Talkspace Trading Up 0.1%

The stock has a market capitalization of $876.93 million, a PE ratio of 524.02 and a beta of 1.07. The firm has a 50-day moving average price of $5.20 and a 200-day moving average price of $4.76.

Talkspace (NASDAQ:TALK) last released its earnings results on Monday, May 11th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.06). The firm had revenue of $61.68 million during the quarter, compared to analysts’ expectations of $63.32 million. Talkspace had a return on equity of 1.03% and a net margin of 0.49%. Sell-side analysts expect that Talkspace, Inc. will post 0.13 earnings per share for the current fiscal year.

Insider Activity

In other news, insider John Charles Reilly sold 40,289 shares of the business’s stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $5.20, for a total transaction of $209,502.80. Following the completion of the transaction, the insider owned 1,017,686 shares of the company’s stock, valued at approximately $5,291,967.20. The trade was a 3.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 23.50% of the company’s stock.

Hedge Funds Weigh In On Talkspace

Hedge funds and other institutional investors have recently bought and sold shares of the stock. AQR Capital Management LLC lifted its holdings in shares of Talkspace by 963.3% during the 1st quarter. AQR Capital Management LLC now owns 464,599 shares of the company’s stock worth $1,189,000 after acquiring an additional 420,906 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Talkspace by 2.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 142,143 shares of the company’s stock valued at $364,000 after acquiring an additional 3,924 shares during the last quarter. Strs Ohio bought a new position in Talkspace in the first quarter valued at $58,000. Creative Planning raised its position in Talkspace by 24.4% during the second quarter. Creative Planning now owns 80,904 shares of the company’s stock valued at $225,000 after purchasing an additional 15,881 shares in the last quarter. Finally, Rhumbline Advisers lifted its stake in Talkspace by 15.9% during the second quarter. Rhumbline Advisers now owns 171,477 shares of the company’s stock worth $477,000 after purchasing an additional 23,497 shares during the last quarter. Hedge funds and other institutional investors own 57.37% of the company’s stock.

Talkspace Company Profile

Talkspace, Inc (NASDAQ:TALK) is a digital mental health company that provides online therapy and psychiatry services through a secure, cloud-based platform. Headquartered in New York City, Talkspace enables individuals and couples to connect with licensed therapists and psychiatrists via text messaging, live audio, and video sessions. The company’s platform is accessible through web and mobile applications, allowing clients to seek professional support anytime and from any location with an internet connection.

The company’s core offerings include therapy plans that range from unlimited text-based messaging with a dedicated therapist to scheduled live video sessions.