Talkspace (NASDAQ:TALK) Shares Down 3.2%

Talkspace, Inc. (NASDAQ:TALK)’s share price traded down 3.2% during trading on Wednesday . The stock traded as low as $3.02 and last traded at $3.04. 187,838 shares traded hands during trading, a decline of 85% from the average session volume of 1,244,306 shares. The stock had previously closed at $3.14.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on TALK shares. TheStreet raised Talkspace from a “d” rating to a “c-” rating in a research note on Thursday, February 22nd. Barclays lifted their price target on Talkspace from $2.50 to $3.00 and gave the stock an “equal weight” rating in a report on Friday, February 23rd.

Talkspace Price Performance

The firm has a 50-day moving average price of $3.16 and a 200 day moving average price of $2.51. The company has a market cap of $518.52 million, a price-to-earnings ratio of -25.58 and a beta of 1.26.

Talkspace (NASDAQ:TALK) last posted its earnings results on Thursday, February 22nd. The company reported ($0.01) EPS for the quarter, beating the consensus estimate 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 company had revenue of $42.42 million for the quarter, compared to the consensus estimate of $38.30 million. During the same quarter in the prior year, the business earned ($0.08) earnings per share. On average, equities analysts anticipate that Talkspace, Inc. will post -0.03 EPS for the current fiscal year.

Hedge Funds Weigh In On Talkspace

Institutional investors and hedge funds have recently made changes to their positions in the company. Advisory Alpha LLC acquired a new position in shares of Talkspace in the third quarter valued at approximately $48,000. Counterpoint Mutual Funds LLC bought a new stake in shares of Talkspace in the first quarter valued at approximately $132,000. Citigroup Inc. boosted its stake in shares of Talkspace by 53,648.1% in the third quarter. Citigroup Inc. now owns 43,536 shares of the company’s stock valued at $85,000 after buying an additional 43,455 shares during the period. Potomac Capital Management Inc. bought a new stake in Talkspace during the third quarter worth $108,000. Finally, Bank of New York Mellon Corp lifted its stake in Talkspace by 65.4% during the third quarter. Bank of New York Mellon Corp now owns 61,167 shares of the company’s stock worth $119,000 after purchasing an additional 24,185 shares during the last quarter. Institutional investors and hedge funds own 57.37% of the company’s stock.

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.