Talkspace, Inc. (NASDAQ:TALK) Short Interest Down 20.7% in October

Talkspace, Inc. (NASDAQ:TALK) saw a significant decrease in short interest in the month of October. As of October 31st, there was short interest totalling 5,070,000 shares, a decrease of 20.7% from the October 15th total of 6,390,000 shares. Based on an average daily volume of 2,160,000 shares, the days-to-cover ratio is currently 2.3 days. Approximately 3.7% of the shares of the company are sold short.

Talkspace Price Performance

Talkspace stock traded down $0.13 during trading on Friday, reaching $3.04. 2,053,148 shares of the company were exchanged, compared to its average volume of 1,615,899. The stock’s 50 day simple moving average is $2.56 and its two-hundred day simple moving average is $2.37. Talkspace has a 52-week low of $1.60 and a 52-week high of $3.92. The company has a market capitalization of $513.52 million, a P/E ratio of -304.00 and a beta of 1.11.

Talkspace (NASDAQ:TALK) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.01 EPS for the quarter. The business had revenue of $47.40 million during the quarter, compared to analysts’ expectations of $47.50 million. Talkspace had a negative return on equity of 1.17% and a negative net margin of 0.76%. During the same quarter in the prior year, the business earned ($0.03) earnings per share. As a group, equities analysts forecast that Talkspace will post -0.03 earnings per share for the current year.

Insider Activity

In other Talkspace news, CFO Ian Jiro Harris purchased 23,100 shares of Talkspace stock in a transaction that occurred on Thursday, September 19th. The stock was acquired at an average price of $2.11 per share, with a total value of $48,741.00. Following the transaction, the chief financial officer now owns 397,657 shares in the company, valued at $839,056.27. This trade represents a 6.17 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 21.70% of the company’s stock.

Institutional Investors Weigh In On Talkspace

Large investors have recently made changes to their positions in the company. Barclays PLC increased its stake in Talkspace by 322.3% during the third quarter. Barclays PLC now owns 175,990 shares of the company’s stock valued at $368,000 after acquiring an additional 134,313 shares during the period. State Street Corp boosted its position in shares of Talkspace by 36.4% during the third quarter. State Street Corp now owns 2,176,589 shares of the company’s stock worth $4,549,000 after purchasing an additional 580,826 shares in the last quarter. Clearline Capital LP lifted its position in Talkspace by 28.1% in the 3rd quarter. Clearline Capital LP now owns 1,248,756 shares of the company’s stock valued at $2,610,000 after acquiring an additional 273,994 shares in the last quarter. Josh Arnold Investment Consultant LLC acquired a new position in Talkspace during the 3rd quarter worth approximately $125,000. Finally, MetLife Investment Management LLC grew its holdings in shares of Talkspace by 27.1% in the 3rd quarter. MetLife Investment Management LLC now owns 41,140 shares of the company’s stock valued at $86,000 after acquiring an additional 8,764 shares in the last quarter. Institutional investors and hedge funds own 57.37% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on TALK. Barclays raised their price objective on Talkspace from $2.00 to $3.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. Needham & Company LLC restated a “hold” rating on shares of Talkspace in a research report on Wednesday, October 30th.

About Talkspace

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.