HeartBeam, Inc. (NASDAQ:BEAT) Stock Has Average Price Target of $4.00

HeartBeam, Inc. (NASDAQ:BEAT) has been assigned an average recommendation of “Moderate Buy” from the nine brokerages that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $4.00.

A number of equities analysts have weighed in on BEAT shares. Maxim Group initiated coverage on shares of HeartBeam in a research report on Tuesday, July 14th. They issued a “buy” rating and a $2.00 price target for the company. HC Wainwright downgraded shares of HeartBeam from a “buy” rating to a “neutral” rating in a research report on Tuesday, September 22nd. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of HeartBeam in a research note on Tuesday.

Institutional Investors Weigh In On HeartBeam

A number of institutional investors and hedge funds have recently bought and sold shares of BEAT. Sigma Planning Corp grew its position in shares of HeartBeam by 115.0% during the first quarter. Sigma Planning Corp now owns 132,550 shares of the medical research company’s stock worth $162,000 after purchasing an additional 70,900 shares in the last quarter. Beacon Pointe Advisors LLC bought a new stake in HeartBeam during the 2nd quarter valued at approximately $185,000. Finally, BlackRock Inc. purchased a new position in HeartBeam in the 2nd quarter worth approximately $741,000. 7.77% of the stock is owned by institutional investors.

HeartBeam Stock Up 3.7%

BEAT stock opened at $0.43 on Thursday. HeartBeam has a twelve month low of $0.35 and a twelve month high of $4.00. The stock has a market cap of $24.49 million, a P/E ratio of -0.85 and a beta of -0.76. The business’s 50-day moving average price is $0.46 and its 200-day moving average price is $0.74.

HeartBeam (NASDAQ:BEAT) last released its earnings results on Thursday, August 13th. The medical research company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.01). On average, equities research analysts expect that HeartBeam will post -0.37 earnings per share for the current fiscal year.

HeartBeam Company Profile

HeartBeam, Inc develops wearable and digital cardiac-monitoring technologies designed to help detect and evaluate heart conditions outside traditional clinical settings. The company’s platform is intended to capture electrocardiogram (ECG) data in a portable, cable-free format and transmit that information through a connected mobile device.

HeartBeam’s technology is based on three-dimensional vector ECG recordings, which are designed to provide electrical views of the heart from multiple directions rather than relying solely on a conventional single-lead wearable reading.