Talkspace (NASDAQ:TALK) Shares Down 4.8% – Should You Sell?

Shares of Talkspace, Inc. (NASDAQ:TALK) were down 4.8% during trading on Monday . The stock traded as low as $2.94 and last traded at $2.99. 300,379 shares were traded during trading, a decline of 81% from the average session volume of 1,595,744 shares. The stock had previously closed at $3.14.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Needham & Company LLC reissued a “hold” rating on shares of Talkspace in a report on Wednesday, October 30th. Barclays boosted their price target on Talkspace from $2.00 to $3.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th.

Talkspace Trading Down 1.9 %

The firm’s 50 day simple moving average is $2.29 and its 200 day simple moving average is $2.35. The firm has a market cap of $518.09 million, a PE ratio of -314.00 and a beta of 1.10.

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

Insider Activity

In other Talkspace news, CFO Ian Jiro Harris acquired 19,500 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was acquired at an average cost of $2.20 per share, with a total value of $42,900.00. Following the purchase, the chief financial officer now directly owns 347,057 shares of the company’s stock, valued at approximately $763,525.40. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 21.70% of the company’s stock.

Hedge Funds Weigh In On Talkspace

A number of institutional investors and hedge funds have recently modified their holdings of TALK. Principal Financial Group Inc. purchased a new stake in shares of Talkspace in the second quarter valued at $38,000. Creative Planning grew its position in Talkspace by 30.6% in the 3rd quarter. Creative Planning now owns 26,386 shares of the company’s stock valued at $55,000 after acquiring an additional 6,179 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of Talkspace during the first quarter worth $74,000. Clear Harbor Asset Management LLC purchased a new stake in shares of Talkspace during the third quarter valued at $84,000. Finally, SG Americas Securities LLC bought a new position in shares of Talkspace in the third quarter worth about $99,000. Hedge funds and other 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.