HeartBeam (NASDAQ:BEAT) Raised to “Sell” at Wall Street Zen

by · The Cerbat Gem

HeartBeam (NASDAQ:BEAT – Get Free Report) was upgraded by Wall Street Zen to a “sell” rating in a note issued to investors on Saturday, Wall Street Zen reports.

A number of other analysts have also recently weighed in on BEAT. Maxim Group initiated coverage on shares of HeartBeam in a research report on Tuesday, July 14th. They issued a “buy” rating and a $2.00 price target on the stock. HC Wainwright reaffirmed a “neutral” rating on shares of HeartBeam in a report on Tuesday, October 6th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of HeartBeam in a report on Tuesday, September 29th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $4.00.

View Our Latest Stock Analysis on BEAT

HeartBeam Stock Performance

NASDAQ:BEAT opened at $0.48 on Friday. The company has a 50-day moving average of $0.47 and a 200-day moving average of $0.71. The firm has a market cap of $27.06 million, a price-to-earnings ratio of -0.94 and a beta of -0.76. HeartBeam has a twelve month low of $0.35 and a twelve month high of $4.00.

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

Institutional Trading of HeartBeam

Several institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. purchased a new stake in HeartBeam during the second quarter valued at about $741,000. Sigma Planning Corp increased its position in shares of HeartBeam by 86.9% in the second quarter. Sigma Planning Corp now owns 247,700 shares of the medical research company’s stock worth $186,000 after acquiring an additional 115,150 shares in the last quarter. Finally, Beacon Pointe Advisors LLC purchased a new position in shares of HeartBeam in the second quarter worth approximately $185,000. Institutional investors and hedge funds own 7.77% of the company’s stock.

About HeartBeam

(Get Free Report)

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.

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