Talkspace (NASDAQ:TALK) Trading Down 4.6%

Talkspace, Inc. (NASDAQ:TALK - Get Free Report)'s stock price fell 4.6% during mid-day trading on Monday . The stock traded as low as $3.32 and last traded at $3.32. 581,575 shares traded hands during trading, a decline of 53% from the average session volume of 1,234,781 shares. The stock had previously closed at $3.48.

Analysts Set New Price Targets

A number of brokerages have issued reports on TALK. Barclays upped their target price on Talkspace from $2.50 to $3.00 and gave the stock an "equal weight" rating in a report on Friday, February 23rd. TheStreet upgraded shares of Talkspace from a "d" rating to a "c-" rating in a report on Thursday, February 22nd.

Talkspace Stock Down 8.0 %

The company has a market cap of $540.48 million, a P/E ratio of -26.66 and a beta of 1.26. The firm's 50 day moving average is $3.08 and its two-hundred day moving average is $2.47.

Talkspace (NASDAQ:TALK - Get Free Report) last issued its quarterly earnings data on Thursday, February 22nd. The company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 company had revenue of $42.42 million during the quarter, compared to the consensus estimate of $38.30 million. During the same period last year, the company earned ($0.08) earnings per share. As a group, research analysts forecast that Talkspace, Inc. will post -0.03 EPS for the current fiscal year.

Institutional Investors Weigh In On Talkspace

Institutional investors and hedge funds have recently made changes to their positions in the business. NVP Associates LLC acquired a new position in Talkspace in the fourth quarter valued at approximately $8,973,000. Goldman Sachs Group Inc. boosted its stake in Talkspace by 1.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 8,291,412 shares of the company's stock worth $21,060,000 after acquiring an additional 123,738 shares in the last quarter. Vanguard Group Inc. grew 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 worth $14,734,000 after purchasing an additional 60,395 shares during the period. Shannon River Fund Management LLC bought a new stake in Talkspace in the fourth quarter valued at $12,700,000. Finally, G2 Investment Partners Management LLC increased its stake in Talkspace by 522.3% in the fourth quarter. G2 Investment Partners Management LLC now owns 2,874,417 shares of the company's stock valued at $7,301,000 after purchasing an additional 2,412,531 shares in the last quarter. Institutional investors own 57.37% of the company's stock.

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.