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

Talkspace, Inc. (NASDAQ:TALK) was the recipient of a significant growth in short interest in December. As of December 31st, there was short interest totalling 5,630,000 shares, a growth of 22.9% from the December 15th total of 4,580,000 shares. Currently, 4.1% of the shares of the company are sold short. Based on an average daily trading volume, of 1,830,000 shares, the short-interest ratio is presently 3.1 days.

Talkspace Price Performance

Talkspace stock traded up $0.10 during midday trading on Thursday, reaching $3.04. The company had a trading volume of 1,090,058 shares, compared to its average volume of 1,139,035. Talkspace has a 12-month low of $1.60 and a 12-month 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 1.14. The firm’s fifty day simple moving average is $3.23 and its 200-day simple moving average is $2.54.

Talkspace (NASDAQ:TALK) last released its earnings results on Tuesday, October 29th. The company reported $0.01 earnings per share for the quarter. Talkspace had a negative return on equity of 1.17% and a negative net margin of 0.76%. The business had revenue of $47.40 million for the quarter, compared to the consensus estimate of $47.50 million. During the same quarter last year, the business posted ($0.03) earnings per share. On average, analysts expect that Talkspace will post 0.02 EPS for the current fiscal year.

Institutional Investors Weigh In On Talkspace

A number of hedge funds have recently modified their holdings of the business. Sugar Maple Asset Management LLC acquired a new position in Talkspace during the third quarter worth about $33,000. Creative Planning grew its position in shares of Talkspace by 30.6% in the third quarter. Creative Planning now owns 26,386 shares of the company’s stock valued at $55,000 after purchasing an additional 6,179 shares in the last quarter. Intech Investment Management LLC acquired a new stake in shares of Talkspace in the third quarter valued at approximately $56,000. Aigen Investment Management LP lifted its position in Talkspace by 37.8% during the third quarter. Aigen Investment Management LP now owns 35,568 shares of the company’s stock worth $74,000 after buying an additional 9,766 shares in the last quarter. Finally, Clear Harbor Asset Management LLC acquired a new position in Talkspace during the third quarter worth $84,000. 57.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have weighed in on TALK shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Talkspace in a report on Wednesday, October 30th. Barclays raised their target price on Talkspace from $2.00 to $3.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. Northland Securities assumed coverage on Talkspace in a research report on Wednesday, November 20th. They set an “outperform” rating and a $5.00 price target on the stock. Mizuho initiated coverage on Talkspace in a report on Wednesday, December 4th. They issued an “outperform” rating and a $5.00 price objective on the stock. Finally, KeyCorp started coverage on Talkspace in a research note on Monday, December 9th. They set an “overweight” rating and a $4.50 target price for the company. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $4.38.

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.