Talkspace (NASDAQ:TALK) Shares Up 4.4%

Talkspace, Inc. (NASDAQ:TALK)’s share price rose 4.4% during trading on Friday . The company traded as high as $3.10 and last traded at $3.10. Approximately 234,517 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 1,241,990 shares. The stock had previously closed at $2.97.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Barclays upped their price target on Talkspace from $2.50 to $3.00 and gave the company an “equal weight” rating in a report on Friday, February 23rd. TheStreet upgraded shares of Talkspace from a “d” rating to a “c-” rating in a report on Thursday, February 22nd.

Talkspace Trading Up 4.7 %

The business has a 50-day moving average of $3.12 and a 200 day moving average of $2.48.

Talkspace (NASDAQ:TALK) last released its quarterly earnings results on Thursday, February 22nd. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.03. Talkspace had a negative return on equity of 16.06% and a negative net margin of 12.78%. The business had revenue of $42.42 million during the quarter, compared to the consensus estimate of $38.30 million. During the same period in the previous year, the company posted ($0.08) EPS. As a group, equities analysts forecast that Talkspace, Inc. will post -0.03 EPS for the current year.

Institutional Trading of Talkspace

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TALK. Citigroup Inc. increased its stake in shares of Talkspace by 53,648.1% in the 3rd quarter. Citigroup Inc. now owns 43,536 shares of the company’s stock worth $85,000 after purchasing an additional 43,455 shares in the last quarter. Bank of New York Mellon Corp increased its position in Talkspace by 65.4% in the third quarter. Bank of New York Mellon Corp now owns 61,167 shares of the company’s stock worth $119,000 after buying an additional 24,185 shares in the last quarter. EAM Investors LLC purchased a new stake in Talkspace in the third quarter worth about $1,787,000. Potomac Capital Management Inc. bought a new position in shares of Talkspace in the third quarter worth about $108,000. Finally, Advisory Alpha LLC purchased a new position in shares of Talkspace during the 3rd quarter valued at about $48,000. 57.37% of the stock is owned by hedge funds and other institutional investors.

Talkspace Company Profile

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.