Talkspace (NASDAQ:TALK) Sees Strong Trading Volume – Here’s What Happened

Shares of Talkspace, Inc. (NASDAQ:TALK) saw unusually-high trading volume on Tuesday . Approximately 8,150,678 shares traded hands during mid-day trading, an increase of 149% from the previous session’s volume of 3,268,691 shares.The stock last traded at $5.1350 and had previously closed at $5.14.

Analyst Upgrades and Downgrades

TALK has been the subject of several recent research reports. Northland Securities lowered Talkspace from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 10th. UBS Group reissued a “buy” rating on shares of Talkspace in a report on Tuesday, December 30th. William Blair lowered shares of Talkspace from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 9th. KeyCorp downgraded shares of Talkspace from an “overweight” rating to a “hold” rating in a research report on Tuesday, March 10th. Finally, Wall Street Zen downgraded shares of Talkspace from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 8th. One equities research analyst has rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $5.56.

Talkspace Price Performance

The stock has a 50-day moving average price of $4.32 and a two-hundred day moving average price of $3.52. The stock has a market cap of $857.12 million, a PE ratio of 102.62 and a beta of 1.18.

Talkspace (NASDAQ:TALK) last posted its earnings results on Thursday, February 19th. The company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01. The company had revenue of $63.00 million for the quarter, compared to the consensus estimate of $61.91 million. Talkspace had a return on equity of 6.89% and a net margin of 3.40%. Equities research analysts expect that Talkspace, Inc. will post 0.08 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of TALK. State of Alaska Department of Revenue bought a new stake in Talkspace in the third quarter worth $25,000. Cerity Partners LLC purchased a new position in shares of Talkspace in the 2nd quarter worth $28,000. Neuberger Berman Group LLC bought a new stake in shares of Talkspace in the 2nd quarter worth about $29,000. Xponance Inc. purchased a new stake in shares of Talkspace during the 3rd quarter valued at about $31,000. Finally, Nierenberg Investment Management Company Inc. bought a new position in shares of Talkspace in the 3rd quarter valued at about $32,000. 57.37% of the stock is owned by hedge funds and other institutional investors.

About Talkspace

Talkspace, Inc (NASDAQ:TALK) is a digital mental health company that provides online therapy and psychiatry services through a secure, cloud-based platform. Headquartered in New York City, Talkspace enables individuals and couples to connect with licensed therapists and psychiatrists via text messaging, live audio, and video sessions. The company’s platform is accessible through web and mobile applications, allowing clients to seek professional support anytime and from any location with an internet connection.

The company’s core offerings include therapy plans that range from unlimited text-based messaging with a dedicated therapist to scheduled live video sessions.