Talkspace (NASDAQ:TALK) Shares Down 3.2%

Talkspace, Inc. (NASDAQ:TALK) fell 3.2% during trading on Wednesday . The stock traded as low as $3.02 and last traded at $3.04. 187,838 shares traded hands during trading, a decline of 85% from the average session volume of 1,244,306 shares. The stock had previously closed at $3.14.

Wall Street Analyst Weigh In

Several brokerages have commented on TALK. TheStreet upgraded shares of Talkspace from a “d” rating to a “c-” rating in a research note on Thursday, February 22nd. Barclays boosted their target price on shares of Talkspace from $2.50 to $3.00 and gave the company an “equal weight” rating in a research note on Friday, February 23rd.

Talkspace Stock Performance

The firm’s 50 day moving average is $3.16 and its 200-day moving average is $2.51. The stock has a market capitalization of $518.52 million, a price-to-earnings ratio of -25.58 and a beta of 1.26.

Talkspace (NASDAQ:TALK) last posted its earnings results on Thursday, February 22nd. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.03. The firm had revenue of $42.42 million during the quarter, compared to analysts’ expectations of $38.30 million. Talkspace had a negative net margin of 12.78% and a negative return on equity of 16.06%. During the same period in the previous year, the business posted ($0.08) EPS. As a group, sell-side analysts forecast that Talkspace, Inc. will post -0.03 earnings per share for the current year.

Hedge Funds Weigh In On Talkspace

A number of large investors have recently added to or reduced their stakes in the stock. Advisory Alpha LLC purchased a new stake in shares of Talkspace during the third quarter worth $48,000. Bank of New York Mellon Corp increased its position in shares of Talkspace by 65.4% during the third quarter. Bank of New York Mellon Corp now owns 61,167 shares of the company’s stock valued at $119,000 after acquiring an additional 24,185 shares during the last quarter. Essex Investment Management Co. LLC increased its position in shares of Talkspace by 11.9% during the third quarter. Essex Investment Management Co. LLC now owns 1,420,067 shares of the company’s stock valued at $2,769,000 after acquiring an additional 151,218 shares during the last quarter. WINTON GROUP Ltd increased its position in shares of Talkspace by 294.2% during the third quarter. WINTON GROUP Ltd now owns 100,546 shares of the company’s stock valued at $196,000 after acquiring an additional 75,041 shares during the last quarter. Finally, EAM Investors LLC purchased a new position in shares of Talkspace in the third quarter valued at approximately $1,787,000. 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.