HeartBeam, Inc. (NASDAQ:BEAT) Stock Has Average Target Price of $4.00

Shares of HeartBeam, Inc. (NASDAQ:BEAT) have been assigned an average recommendation of “Moderate Buy” from the nine research firms that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $4.00.

BEAT has been the subject of several analyst reports. Maxim Group started coverage on shares of HeartBeam in a research note on Tuesday, July 14th. They issued a “buy” rating and a $2.00 price objective for the company. Weiss Ratings restated a “sell (e+)” rating on shares of HeartBeam in a research report on Tuesday, September 29th. HC Wainwright reaffirmed a “neutral” rating on shares of HeartBeam in a report on Tuesday, October 6th. Finally, Wall Street Zen raised shares of HeartBeam to a “sell” rating in a report on Saturday, October 10th.

HeartBeam Price Performance

Shares of NASDAQ BEAT opened at $0.39 on Monday. The stock’s fifty day moving average price is $0.44 and its two-hundred day moving average price is $0.65. HeartBeam has a one year low of $0.35 and a one year high of $4.00. The firm has a market cap of $22.16 million, a price-to-earnings ratio of -0.77 and a beta of -0.76.

HeartBeam (NASDAQ:BEAT) last posted its earnings results on Thursday, August 13th. The medical research company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). On average, equities analysts anticipate that HeartBeam will post -0.37 earnings per share for the current fiscal year.

Institutional Investors Weigh In On HeartBeam

Large investors have recently added to or reduced their stakes in the stock. Sigma Planning Corp raised its holdings in HeartBeam by 115.0% in the 1st quarter. Sigma Planning Corp now owns 132,550 shares of the medical research company’s stock valued at $162,000 after acquiring an additional 70,900 shares in the last quarter. Beacon Pointe Advisors LLC bought a new stake in shares of HeartBeam during the 2nd quarter valued at $185,000. Finally, BlackRock Inc. acquired a new stake in shares of HeartBeam during the 2nd quarter worth $741,000. Institutional investors and hedge funds own 7.77% of the company’s stock.

About HeartBeam

HeartBeam, Inc is a medical technology company developing portable cardiac-monitoring solutions designed to help detect and evaluate heart conditions outside traditional clinical settings. Its technology is intended to provide patients and healthcare professionals with more comprehensive electrocardiogram (ECG) information than conventional single-lead wearable devices.

The company’s primary product is the HeartBeam AIMIGo system, a compact, cable-free device that records a three-dimensional, vector-based ECG.