Talkspace (NASDAQ:TALK) Trading Down 6% – Time to Sell?

Shares of Talkspace, Inc. (NASDAQ:TALK) were down 6% during trading on Wednesday . The company traded as low as $3.83 and last traded at $3.85. Approximately 1,420,759 shares were traded during trading, a decline of 8% from the average daily volume of 1,550,479 shares. The stock had previously closed at $4.09.

Analyst Ratings Changes

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

Talkspace Stock Down 8.5 %

The stock has a market capitalization of $508.46 million, a price-to-earnings ratio of -301.00 and a beta of 1.14. The business’s 50-day moving average is $3.30 and its two-hundred day moving average is $2.80.

Talkspace (NASDAQ:TALK) last posted its earnings results on Thursday, February 20th. The company reported $0.01 earnings per share for the quarter, meeting the consensus estimate of $0.01. The company had revenue of $48.72 million for the quarter, compared to analyst estimates of $49.94 million. Talkspace had a negative net margin of 0.76% and a negative return on equity of 1.17%. As a group, analysts forecast that Talkspace, Inc. will post 0.02 EPS for the current fiscal year.

Hedge Funds Weigh In On Talkspace

Institutional investors and hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its holdings in Talkspace by 448.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 526,972 shares of the company’s stock valued at $1,101,000 after purchasing an additional 430,861 shares during the last quarter. Evernest Financial Advisors LLC acquired a new position in Talkspace in the 4th quarter valued at about $337,000. Royce & Associates LP acquired a new position in Talkspace in the 3rd quarter valued at about $1,045,000. Barclays PLC boosted its holdings in Talkspace by 322.3% in the 3rd quarter. Barclays PLC now owns 175,990 shares of the company’s stock valued at $368,000 after purchasing an additional 134,313 shares during the last quarter. Finally, State Street Corp boosted its holdings in Talkspace by 36.4% in the 3rd quarter. State Street Corp now owns 2,176,589 shares of the company’s stock valued at $4,549,000 after purchasing an additional 580,826 shares during the last quarter. 57.37% of the stock is currently owned by institutional investors and hedge funds.

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.