Talkspace, Inc. (NASDAQ:TALK) Short Interest Update

Talkspace, Inc. (NASDAQ:TALK) was the target of a significant decrease in short interest in the month of October. As of October 31st, there was short interest totalling 5,070,000 shares, a decrease of 20.7% from the October 15th total of 6,390,000 shares. Currently, 3.7% of the company’s stock are short sold. Based on an average daily volume of 2,160,000 shares, the days-to-cover ratio is presently 2.3 days.

Analyst Ratings Changes

TALK has been the topic of a number of recent analyst reports. Barclays increased their price target on shares of Talkspace from $2.00 to $3.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Needham & Company LLC reissued a “hold” rating on shares of Talkspace in a report on Wednesday, October 30th.

Talkspace Price Performance

Talkspace stock traded down $0.13 during midday trading on Friday, reaching $3.04. 2,053,252 shares of the company traded hands, compared to its average volume of 2,461,388. The firm has a market capitalization of $513.52 million, a price-to-earnings ratio of -304.00 and a beta of 1.11. Talkspace has a 12 month low of $1.60 and a 12 month high of $3.92. The business has a 50 day moving average of $2.56 and a two-hundred day moving average of $2.37.

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

Insider Buying and Selling at Talkspace

In other news, CFO Ian Jiro Harris acquired 23,100 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The shares were bought at an average cost of $2.11 per share, with a total value of $48,741.00. Following the transaction, the chief financial officer now owns 397,657 shares of the company’s stock, valued at $839,056.27. This trade represents a 6.17 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 21.70% of the company’s stock.

Institutional Investors Weigh In On Talkspace

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sugar Maple Asset Management LLC bought a new position in shares of Talkspace in the third quarter worth approximately $33,000. Principal Financial Group Inc. purchased a new position in shares of Talkspace in the second quarter valued at about $38,000. Virtu Financial LLC bought a new position in Talkspace in the 1st quarter worth approximately $74,000. Creative Planning boosted its position in shares of Talkspace by 30.6% during the third quarter. Creative Planning now owns 26,386 shares of the company’s stock worth $55,000 after acquiring an additional 6,179 shares during the last quarter. Finally, Intech Investment Management LLC bought a new stake in shares of Talkspace in the third quarter worth about $56,000. 57.37% of the stock is owned by hedge funds and other institutional investors.

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.