Talkspace (NASDAQ:TALK) Shares Down 4.8% – Here’s Why

Shares of Talkspace, Inc. (NASDAQ:TALK) were down 4.8% on Monday . The stock traded as low as $2.94 and last traded at $2.99. Approximately 300,379 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 1,595,744 shares. The stock had previously closed at $3.14.

Analyst Ratings Changes

Several research analysts have recently issued reports on TALK shares. Barclays raised their target price on shares of Talkspace from $2.00 to $3.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Needham & Company LLC reaffirmed a “hold” rating on shares of Talkspace in a research note on Wednesday, October 30th.

Talkspace Stock Down 1.9 %

The firm has a market cap of $518.09 million, a P/E ratio of -314.00 and a beta of 1.10. The firm’s fifty day moving average is $2.29 and its two-hundred day moving average is $2.35.

Talkspace (NASDAQ:TALK) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.01 EPS for the quarter. Talkspace had a negative return on equity of 1.17% and a negative net margin of 0.76%. The business had revenue of $47.40 million during the quarter, compared to analyst estimates of $47.50 million. During the same quarter last year, the firm posted ($0.03) earnings per share. As a group, sell-side analysts forecast that Talkspace, Inc. will post -0.03 EPS for the current year.

Insider Buying and Selling

In other news, CFO Ian Jiro Harris bought 19,500 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were purchased at an average price of $2.20 per share, for a total transaction of $42,900.00. Following the completion of the purchase, the chief financial officer now owns 347,057 shares in the company, valued at approximately $763,525.40. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 21.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Talkspace

Several hedge funds and other institutional investors have recently bought and sold shares of TALK. GSA Capital Partners LLP grew its position in Talkspace by 5.3% in the 1st quarter. GSA Capital Partners LLP now owns 236,921 shares of the company’s stock worth $846,000 after purchasing an additional 11,977 shares during the period. Essex Investment Management Co. LLC grew its stake in shares of Talkspace by 1.6% during the 1st quarter. Essex Investment Management Co. LLC now owns 1,339,494 shares of the company’s stock valued at $4,782,000 after purchasing an additional 20,613 shares during the period. Advisory Alpha LLC purchased a new stake in shares of Talkspace during the 1st quarter valued at about $296,000. Vanguard Group Inc. lifted its stake in shares of Talkspace by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 5,885,681 shares of the company’s stock worth $21,012,000 after purchasing an additional 84,933 shares during the period. Finally, Virtu Financial LLC bought a new stake in Talkspace during the first quarter valued at approximately $74,000. Institutional investors 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.