HeartSciences Inc. (NASDAQ:HSCS) Short Interest Down 14.4% in March

HeartSciences Inc. (NASDAQ:HSCS) saw a significant decline in short interest during the month of March. As of March 13th, there was short interest totaling 32,498 shares, a decline of 14.4% from the February 26th total of 37,981 shares. Based on an average trading volume of 9,306 shares, the days-to-cover ratio is currently 3.5 days. Approximately 1.0% of the company’s shares are sold short.

HeartSciences Trading Down 6.0%

Shares of HeartSciences stock traded down $0.15 during trading on Wednesday, hitting $2.36. The stock had a trading volume of 10,049 shares, compared to its average volume of 20,718. The firm’s fifty day simple moving average is $2.85 and its 200-day simple moving average is $2.99. The stock has a market cap of $7.52 million, a PE ratio of -0.48 and a beta of 2.53. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.19 and a quick ratio of 1.04. HeartSciences has a 12 month low of $2.01 and a 12 month high of $6.47.

HeartSciences (NASDAQ:HSCS) last released its quarterly earnings results on Thursday, March 12th. The company reported ($0.63) EPS for the quarter, topping analysts’ consensus estimates of ($0.84) by $0.21. As a group, sell-side analysts expect that HeartSciences will post -10.01 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

HSCS has been the subject of several analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of HeartSciences in a research note on Friday. Ascendiant Capital Markets cut their target price on HeartSciences from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Tuesday, March 24th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $8.00.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. TFB Advisors LLC purchased a new stake in shares of HeartSciences in the third quarter worth approximately $105,000. Geode Capital Management LLC grew its position in HeartSciences by 110.7% in the 4th quarter. Geode Capital Management LLC now owns 26,928 shares of the company’s stock valued at $83,000 after acquiring an additional 14,150 shares during the last quarter. Finally, DRW Securities LLC grew its position in HeartSciences by 13.7% in the 4th quarter. DRW Securities LLC now owns 95,065 shares of the company’s stock valued at $294,000 after acquiring an additional 11,455 shares during the last quarter. Institutional investors own 17.24% of the company’s stock.

HeartSciences Company Profile

HeartSciences, Inc (NASDAQ: HSCS) is a medical device company focused on the development and commercialization of advanced, non‐invasive cardiac diagnostic technologies. The company’s flagship product, MyoVista, is a high‐fidelity electrocardiograph (ECG) designed to detect subtle changes in cardiac function that may indicate myocardial ischemia or left ventricular dysfunction. By leveraging high‐frequency wavelet analysis within the QRS complex, MyoVista provides clinicians with enhanced visualization and analytical capabilities that extend beyond those of standard ECG systems.

HeartSciences supports the MyoVista system with an integrated software suite that automates data analysis and report generation, facilitating seamless integration into existing clinical workflows.