Talkspace (NASDAQ:TALK) Trading Up 6% – Still a Buy?

Talkspace, Inc. (NASDAQ:TALK)’s stock price shot up 6% during trading on Friday . The stock traded as high as $3.85 and last traded at $3.82. 1,753,072 shares traded hands during trading, an increase of 53% from the average session volume of 1,144,634 shares. The stock had previously closed at $3.60.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on TALK shares. Northland Capmk upgraded Talkspace to a “strong-buy” rating in a research note on Wednesday, November 20th. Northland Securities initiated coverage on Talkspace in a research note on Wednesday, November 20th. They issued an “outperform” rating and a $5.00 target price on the stock. KeyCorp began coverage on Talkspace in a research report on Monday, December 9th. They issued an “overweight” rating and a $4.50 price target for the company. Mizuho initiated coverage on shares of Talkspace in a research report on Wednesday, December 4th. They set an “outperform” rating and a $5.00 price objective on the stock. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Talkspace in a report on Wednesday, October 30th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $4.38.

Talkspace Stock Up 6.9 %

The company has a market capitalization of $650.34 million, a PE ratio of -385.00 and a beta of 1.14. The firm’s 50 day simple moving average is $3.20 and its 200 day simple moving average is $2.66.

Institutional Investors Weigh In On Talkspace

A number of large investors have recently modified their holdings of TALK. Dimensional Fund Advisors LP acquired a new position in Talkspace in the 2nd quarter worth about $921,000. Squarepoint Ops LLC grew its stake in Talkspace by 18.7% in the 2nd quarter. Squarepoint Ops LLC now owns 156,652 shares of the company’s stock valued at $360,000 after acquiring an additional 24,691 shares during the period. The Manufacturers Life Insurance Company purchased a new stake in Talkspace in the 2nd quarter worth $113,000. SG Americas Securities LLC acquired a new position in Talkspace during the third quarter worth $99,000. Finally, Creative Planning lifted its holdings in Talkspace by 30.6% during the third quarter. Creative Planning now owns 26,386 shares of the company’s stock valued at $55,000 after purchasing an additional 6,179 shares in the last quarter. Hedge funds and other institutional investors 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.