Talkspace (NASDAQ:TALK) Sees Unusually-High Trading Volume

Talkspace, Inc. (NASDAQ:TALK - Get Free Report) saw strong trading volume on Tuesday . 1,377,838 shares changed hands during mid-day trading, an increase of 16% from the previous session's volume of 1,190,106 shares.The stock last traded at $3.85 and had previously closed at $3.73.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. TheStreet upgraded Talkspace from a "d" rating to a "c-" rating in a research report on Thursday, February 22nd. Barclays increased their price objective on Talkspace from $2.50 to $3.00 and gave the company an "equal weight" rating in a research report on Friday, February 23rd.

Talkspace Stock Performance

The stock has a market capitalization of $638.44 million, a P/E ratio of -31.50 and a beta of 1.26. The firm has a 50-day moving average price of $3.00 and a 200 day moving average price of $2.42.

Talkspace (NASDAQ:TALK - Get Free Report) last announced its quarterly earnings data on Thursday, February 22nd. The company reported ($0.01) 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 firm had revenue of $42.42 million for the quarter, compared to analyst estimates of $38.30 million. During the same period in the prior year, the company earned ($0.08) EPS. On average, equities analysts anticipate that Talkspace, Inc. will post -0.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Talkspace

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Citigroup Inc. raised its holdings in shares of Talkspace by 53,648.1% during the third quarter. Citigroup Inc. now owns 43,536 shares of the company's stock valued at $85,000 after acquiring an additional 43,455 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Talkspace by 65.4% in the third quarter. Bank of New York Mellon Corp now owns 61,167 shares of the company's stock worth $119,000 after buying an additional 24,185 shares during the period. EAM Investors LLC bought a new position in shares of Talkspace in the third quarter worth about $1,787,000. Potomac Capital Management Inc. bought a new position in shares of Talkspace in the third quarter worth about $108,000. Finally, Advisory Alpha LLC bought a new position in shares of Talkspace in the third quarter worth about $48,000. 57.37% of the stock is currently owned by institutional investors.

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.