Talkspace, Inc. (NASDAQ:TALK) Short Interest Update

Talkspace, Inc. (NASDAQ:TALK) was the target of a significant increase in short interest in April. As of April 15th, there was short interest totalling 3,720,000 shares, an increase of 21.6% from the March 31st total of 3,060,000 shares. Currently, 3.1% of the company’s stock are sold short. Based on an average daily trading volume, of 1,350,000 shares, the days-to-cover ratio is presently 2.8 days.

Institutional Investors Weigh In On Talkspace

A number of hedge funds have recently bought and sold shares of TALK. Citigroup Inc. grew its position 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 acquiring an additional 43,455 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Talkspace by 65.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 61,167 shares of the company’s stock worth $119,000 after acquiring an additional 24,185 shares in the last quarter. EAM Investors LLC acquired a new position in shares of Talkspace in the 3rd quarter worth approximately $1,787,000. Potomac Capital Management Inc. acquired a new position in shares of Talkspace in the 3rd quarter worth approximately $108,000. Finally, WINTON GROUP Ltd grew its position in shares of Talkspace by 294.2% in the 3rd quarter. WINTON GROUP Ltd now owns 100,546 shares of the company’s stock worth $196,000 after acquiring an additional 75,041 shares in the last quarter. Institutional investors and hedge funds own 57.37% of the company’s stock.

Talkspace Price Performance

NASDAQ TALK traded up $0.04 during mid-day trading on Friday, reaching $3.12. 335,835 shares of the company’s stock traded hands, compared to its average volume of 1,383,940. Talkspace has a 1-year low of $0.74 and a 1-year high of $3.92. The company has a fifty day simple moving average of $3.20 and a 200-day simple moving average of $2.53.

Talkspace (NASDAQ:TALK) last issued its quarterly earnings data on Thursday, February 22nd. The company reported ($0.01) earnings per share 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 firm had revenue of $42.42 million during the quarter, compared to analyst estimates of $38.30 million. During the same quarter last year, the firm earned ($0.08) EPS. Sell-side analysts expect that Talkspace will post -0.03 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

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.