Talkspace (NASDAQ:TALK) Shares Down 3.2%

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

Analysts Set New Price Targets

TALK has been the subject of several recent research reports. TheStreet upgraded shares of Talkspace from a "d" rating to a "c-" rating in a research note on Thursday, February 22nd. Barclays upped their price target on shares of Talkspace from $2.50 to $3.00 and gave the stock an "equal weight" rating in a research report on Friday, February 23rd.

Talkspace Price Performance

The firm has a market cap of $518.52 million, a price-to-earnings ratio of -25.58 and a beta of 1.26. The firm's fifty day moving average is $3.16 and its two-hundred day moving average is $2.51.

Talkspace (NASDAQ:TALK - Get Free Report) last posted its quarterly earnings data on Thursday, February 22nd. The company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.03. The business had revenue of $42.42 million during the quarter, compared to the consensus estimate 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 quarter in the prior year, the company posted ($0.08) earnings per share. On average, equities analysts forecast that Talkspace, Inc. will post -0.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Talkspace

Institutional investors have recently bought and sold shares of the stock. Advisory Alpha LLC acquired a new stake in Talkspace in the 3rd quarter valued at about $48,000. Bank of New York Mellon Corp lifted its holdings in Talkspace by 65.4% in the 3rd 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 lifted its holdings in Talkspace by 11.9% in the 3rd 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 lifted its holdings in Talkspace by 294.2% in the 3rd 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 acquired a new stake in Talkspace in the 3rd quarter valued at about $1,787,000. Institutional investors and hedge funds 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.