Talkspace (NASDAQ:TALK) Stock Price Down 6% – What’s Next?

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

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Northland Capmk upgraded Talkspace to a “strong-buy” rating in a research note on Wednesday, November 20th. Needham & Company LLC restated a “hold” rating on shares of Talkspace in a research report on Wednesday, October 30th. Barclays upped their price objective on shares of Talkspace from $2.00 to $3.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Northland Securities started coverage on shares of Talkspace in a research note on Wednesday, November 20th. They set an “outperform” rating and a $5.00 price objective on the stock. Finally, Mizuho started coverage on shares of Talkspace in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $5.00 target price for the company. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $4.38.

Talkspace Price Performance

The business’s fifty day moving average price is $3.28 and its 200 day moving average price is $2.77. The stock has a market cap of $652.03 million, a P/E ratio of -386.00 and a beta of 1.14.

Institutional Trading of Talkspace

A number of hedge funds have recently added to or reduced their stakes in TALK. Two Sigma Investments LP increased its holdings in shares of Talkspace by 14.2% during the fourth quarter. Two Sigma Investments LP now owns 668,723 shares of the company’s stock worth $2,066,000 after buying an additional 82,921 shares in the last quarter. State of Wyoming bought a new stake in Talkspace during the 4th quarter worth $439,000. Tema Etfs LLC acquired a new position in Talkspace in the 4th quarter worth about $81,000. ProShare Advisors LLC raised its position in Talkspace by 49.0% in the fourth quarter. ProShare Advisors LLC now owns 34,622 shares of the company’s stock valued at $107,000 after purchasing an additional 11,392 shares during the last quarter. Finally, Man Group plc acquired a new stake in shares of Talkspace during the fourth quarter valued at about $481,000. 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.