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

Talkspace, Inc. (NASDAQ:TALK) was the target of a large increase in short interest during the month of July. As of July 15th, there was short interest totalling 7,990,000 shares, an increase of 76.8% from the June 30th total of 4,520,000 shares. Based on an average trading volume of 1,470,000 shares, the days-to-cover ratio is presently 5.4 days. Currently, 6.6% of the company’s shares are sold short.

Insider Buying and Selling

In other Talkspace news, CMO Katelyn Watson sold 94,018 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $2.70, for a total value of $253,848.60. Following the completion of the sale, the chief marketing officer now owns 478,473 shares in the company, valued at $1,291,877.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 18.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in TALK. Citigroup Inc. grew its holdings in shares of Talkspace by 53,648.1% during 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 during the period. Shannon River Fund Management LLC purchased a new position in Talkspace during the 4th quarter valued at about $12,700,000. G2 Investment Partners Management LLC lifted its position in Talkspace by 522.3% during the 4th quarter. G2 Investment Partners Management LLC now owns 2,874,417 shares of the company’s stock valued at $7,301,000 after acquiring an additional 2,412,531 shares during the period. Goldman Sachs Group Inc. boosted its stake in Talkspace by 1.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 8,291,412 shares of the company’s stock worth $21,060,000 after acquiring an additional 123,738 shares in the last quarter. Finally, Counterpoint Mutual Funds LLC purchased a new stake in Talkspace in the first quarter worth about $132,000. 57.37% of the stock is currently owned by institutional investors.

Talkspace Price Performance

Shares of NASDAQ:TALK opened at $2.04 on Friday. The stock’s 50-day moving average is $2.36 and its 200 day moving average is $2.72. The company has a market cap of $346.15 million, a PE ratio of -25.50 and a beta of 1.21. Talkspace has a 1 year low of $1.41 and a 1 year high of $3.92.

Talkspace (NASDAQ:TALK) last posted its earnings results on Tuesday, May 7th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.01. Talkspace had a negative return on equity of 10.00% and a negative net margin of 7.33%. The firm had revenue of $45.42 million for the quarter, compared to analysts’ expectations of $44.30 million. Analysts expect that Talkspace will post -0.04 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC initiated coverage on shares of Talkspace in a report on Monday, July 1st. They set a “hold” rating for the company.

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.