Talkspace (NASDAQ:TALK) Sees Large Volume Increase – Here’s Why
by Mitch Edgeman · The Markets DailyTalkspace, Inc. (NASDAQ:TALK – Get Free Report) saw strong trading volume on Tuesday . 8,150,678 shares were traded during mid-day trading, an increase of 149% from the previous session’s volume of 3,268,691 shares.The stock last traded at $5.1350 and had previously closed at $5.14.
Analyst Ratings Changes
TALK has been the topic of several recent analyst reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of Talkspace in a research report on Monday, December 29th. KeyCorp downgraded shares of Talkspace from an “overweight” rating to a “hold” rating in a research note on Tuesday, March 10th. Wall Street Zen lowered shares of Talkspace from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 8th. Barclays lowered their target price on shares of Talkspace from $5.50 to $5.25 and set an “equal weight” rating for the company in a report on Monday, March 9th. Finally, Canaccord Genuity Group lowered shares of Talkspace from a “buy” rating to a “hold” rating in a research report on Monday, March 9th. One investment analyst has rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $5.56.
Check Out Our Latest Analysis on TALK
Talkspace Stock Performance
The company has a market capitalization of $850.66 million, a PE ratio of 102.72 and a beta of 1.17. The business has a fifty day moving average price of $4.28 and a 200 day moving average price of $3.49.
Talkspace (NASDAQ:TALK – Get Free Report) last posted its earnings results on Thursday, February 19th. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.01. The business had revenue of $63.00 million for the quarter, compared to analyst estimates of $61.91 million. Talkspace had a net margin of 3.40% and a return on equity of 6.97%. Research analysts forecast that Talkspace, Inc. will post 0.08 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Talkspace
Hedge funds and other institutional investors have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Talkspace by 2.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 142,143 shares of the company’s stock valued at $364,000 after buying an additional 3,924 shares in the last quarter. Parallel Advisors LLC grew its position in shares of Talkspace by 25.8% in the 3rd quarter. Parallel Advisors LLC now owns 19,500 shares of the company’s stock worth $54,000 after acquiring an additional 4,000 shares in the last quarter. Summit Global Investments increased its holdings in shares of Talkspace by 2.7% in the 2nd quarter. Summit Global Investments now owns 168,082 shares of the company’s stock valued at $467,000 after acquiring an additional 4,367 shares during the last quarter. Intech Investment Management LLC increased its holdings in shares of Talkspace by 11.9% in the 4th quarter. Intech Investment Management LLC now owns 49,701 shares of the company’s stock valued at $180,000 after acquiring an additional 5,277 shares during the last quarter. Finally, Invesco Ltd. raised its position in shares of Talkspace by 10.1% during the 4th quarter. Invesco Ltd. now owns 87,765 shares of the company’s stock valued at $319,000 after acquiring an additional 8,015 shares in the last quarter. Institutional investors own 57.37% of the company’s stock.
Talkspace Company Profile
Talkspace, Inc (NASDAQ:TALK) is a digital mental health company that provides online therapy and psychiatry services through a secure, cloud-based platform. Headquartered in New York City, Talkspace enables individuals and couples to connect with licensed therapists and psychiatrists via text messaging, live audio, and video sessions. The company’s platform is accessible through web and mobile applications, allowing clients to seek professional support anytime and from any location with an internet connection.
The company’s core offerings include therapy plans that range from unlimited text-based messaging with a dedicated therapist to scheduled live video sessions.