Talkspace (NASDAQ:TALK) Trading Up 7.6% – What’s Next?

Talkspace, Inc. (NASDAQ:TALK)’s stock price traded up 7.6% during mid-day trading on Friday . The stock traded as high as $3.57 and last traded at $3.56. 794,749 shares traded hands during mid-day trading, a decline of 51% from the average session volume of 1,611,553 shares. The stock had previously closed at $3.31.

Wall Street Analyst Weigh In

Several research analysts have recently commented on TALK shares. Northland Capmk upgraded Talkspace to a “strong-buy” rating in a research note on Wednesday. Northland Securities began coverage on shares of Talkspace in a research report on Wednesday. They set an “outperform” rating and a $5.00 price objective for the company. Needham & Company LLC reiterated a “hold” rating on shares of Talkspace in a report on Wednesday, October 30th. Finally, Barclays raised their target price on shares of Talkspace from $2.00 to $3.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. Two analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Talkspace has an average rating of “Moderate Buy” and a consensus target price of $4.00.

Talkspace Stock Up 4.2 %

The company has a market cap of $582.78 million, a P/E ratio of -345.00 and a beta of 1.11. The stock has a 50 day moving average price of $2.70 and a two-hundred day moving average price of $2.37.

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

Insider Buying and Selling

In other Talkspace news, CFO Ian Jiro Harris bought 19,500 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was purchased at an average cost of $2.20 per share, for a total transaction of $42,900.00. Following the completion of the purchase, the chief financial officer now directly owns 347,057 shares of the company’s stock, valued at approximately $763,525.40. This trade represents a 5.95 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 21.70% of the stock is owned by company insiders.

Institutional Trading of Talkspace

Several institutional investors and hedge funds have recently modified their holdings of TALK. Vanguard Group Inc. grew its position in Talkspace by 1.5% in the first quarter. Vanguard Group Inc. now owns 5,885,681 shares of the company’s stock valued at $21,012,000 after acquiring an additional 84,933 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of Talkspace during the 1st quarter valued at approximately $74,000. Bank of New York Mellon Corp increased its position in Talkspace by 2,480.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 353,739 shares of the company’s stock worth $814,000 after purchasing an additional 340,030 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Talkspace in the 2nd quarter valued at approximately $264,000. Finally, Principal Financial Group Inc. acquired a new stake in Talkspace in the second quarter valued at approximately $38,000. 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.