Needham & Company LLC reaffirmed their hold rating on shares of Talkspace (NASDAQ:TALK – Free Report) in a report published on Tuesday, Benzinga reports.
Talkspace Stock Up 2.4 %
Shares of TALK stock traded up $0.04 during trading hours on Tuesday, hitting $1.69. 1,673,588 shares of the company were exchanged, compared to its average volume of 1,380,794. The firm has a fifty day moving average of $2.17 and a 200 day moving average of $2.68. Talkspace has a 1 year low of $1.41 and a 1 year high of $3.92. The firm has a market cap of $286.77 million, a PE ratio of -21.13 and a beta of 1.21.
Talkspace (NASDAQ:TALK – Get Free Report) last issued its quarterly earnings results on Tuesday, May 7th. The company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.02) by $0.01. The firm had revenue of $45.42 million during the quarter, compared to analyst estimates of $44.30 million. Talkspace had a negative net margin of 7.33% and a negative return on equity of 10.00%. Analysts expect that Talkspace will post -0.04 earnings per share for the current year.
Insider Activity at Talkspace
Hedge Funds Weigh In On Talkspace
Several hedge funds and other institutional investors have recently made changes to their positions in TALK. Dimensional Fund Advisors LP acquired a new stake in shares of Talkspace in the second quarter valued at about $921,000. Rhumbline Advisers lifted its position in shares of Talkspace by 2,357.6% during the second quarter. Rhumbline Advisers now owns 135,215 shares of the company’s stock worth $311,000 after purchasing an additional 129,713 shares in the last quarter. Principal Financial Group Inc. acquired a new stake in Talkspace during the 2nd quarter valued at $38,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Talkspace during the 2nd quarter worth $264,000. Finally, Bank of New York Mellon Corp lifted its holdings in Talkspace by 2,480.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 353,739 shares of the company’s stock worth $814,000 after buying an additional 340,030 shares in the last quarter. Institutional investors and hedge funds own 57.37% of the company’s stock.
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.
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