Talkspace (NASDAQ:TALK) Shares Gap Up to $3.03

Talkspace, Inc. (NASDAQ:TALK)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $3.03, but opened at $3.10. Talkspace shares last traded at $3.06, with a volume of 53,724 shares.

Wall Street Analyst Weigh In

A number of equities analysts have commented on TALK shares. TheStreet raised Talkspace from a “d” rating to a “c-” rating in a research note on Thursday, February 22nd. Barclays boosted their price objective on Talkspace from $2.50 to $3.00 and gave the stock an “equal weight” rating in a research note on Friday, February 23rd.

Talkspace Price Performance

The business has a 50 day simple moving average of $3.12 and a 200 day simple moving average of $2.48.

Talkspace (NASDAQ:TALK) last issued its quarterly 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. Talkspace had a negative return on equity of 16.06% and a negative net margin of 12.78%. The business had revenue of $42.42 million for the quarter, compared to analyst estimates of $38.30 million. During the same quarter in the prior year, the firm posted ($0.08) earnings per share. Sell-side analysts expect that Talkspace, Inc. will post -0.03 EPS for the current year.

Hedge Funds Weigh In On Talkspace

Several large investors have recently made changes to their positions in the company. Counterpoint Mutual Funds LLC acquired a new position in shares of Talkspace during the first quarter valued at $132,000. Vanguard Group Inc. increased its holdings in Talkspace by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 5,800,748 shares of the company’s stock valued at $14,734,000 after purchasing an additional 60,395 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Talkspace by 1.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 8,291,412 shares of the company’s stock valued at $21,060,000 after purchasing an additional 123,738 shares during the last quarter. GSA Capital Partners LLP increased its holdings in Talkspace by 296.3% in the fourth quarter. GSA Capital Partners LLP now owns 224,944 shares of the company’s stock valued at $571,000 after purchasing an additional 168,179 shares during the last quarter. Finally, Potomac Capital Management Inc. increased its holdings in Talkspace by 138.8% in the fourth quarter. Potomac Capital Management Inc. now owns 132,800 shares of the company’s stock valued at $337,000 after purchasing an additional 77,200 shares during the last quarter. 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.