Talkspace (NASDAQ:TALK) Trading Down 6% – Time to Sell?

by · The Cerbat Gem

Talkspace, Inc. (NASDAQ:TALK – Get Free Report) shares fell 6% on Wednesday . The stock traded as low as $3.83 and last traded at $3.85. 1,420,759 shares changed hands during trading, a decline of 8% from the average session volume of 1,550,479 shares. The stock had previously closed at $4.09.

Analyst Ratings Changes

Several brokerages recently weighed in on TALK. Barclays upped their target price on shares of Talkspace from $2.00 to $3.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. Needham & Company LLC reissued a “hold” rating on shares of Talkspace in a research report on Friday. Northland Capmk raised shares of Talkspace to a “strong-buy” rating in a research report on Wednesday, November 20th. Northland Securities assumed coverage on shares of Talkspace in a research report on Wednesday, November 20th. They issued an “outperform” rating and a $5.00 price objective on the stock. Finally, KeyCorp assumed coverage on shares of Talkspace in a research report on Monday, December 9th. They issued an “overweight” rating and a $4.50 price objective on the stock. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $4.38.

Get Our Latest Analysis on TALK

Talkspace Trading Down 8.5 %

The firm’s fifty day moving average price is $3.30 and its 200-day moving average price is $2.80. The firm has a market cap of $508.46 million, a price-to-earnings ratio of -301.00 and a beta of 1.14.

Talkspace (NASDAQ:TALK – Get Free Report) last issued its earnings results on Thursday, February 20th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.01. Talkspace had a negative net margin of 0.76% and a negative return on equity of 1.17%. The business had revenue of $48.72 million during the quarter, compared to analysts’ expectations of $49.94 million. On average, sell-side analysts expect that Talkspace, Inc. will post 0.02 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of TALK. Deutsche Bank AG boosted its holdings in shares of Talkspace by 103.1% in the fourth quarter. Deutsche Bank AG now owns 4,615,485 shares of the company’s stock valued at $14,262,000 after acquiring an additional 2,342,913 shares in the last quarter. Voss Capital LP purchased a new stake in shares of Talkspace in the fourth quarter valued at about $3,981,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Talkspace in the fourth quarter valued at about $3,371,000. Balyasny Asset Management L.P. purchased a new stake in shares of Talkspace in the fourth quarter valued at about $3,179,000. Finally, Metavasi Capital LP purchased a new stake in shares of Talkspace in the fourth quarter valued at about $2,295,000. Institutional investors and hedge funds own 57.37% of the company’s stock.

Talkspace Company Profile

(Get Free Report)

Talkspace, Inc operates as a virtual behavioral healthcare company in the United States. The company offers psychotherapy and psychiatry services through its platform to individuals, enterprises, and health plans and employee assistance programs. It provides text, audio, and video-based psychotherapy from licensed therapists.

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