Talkspace, Inc. (NASDAQ:TALK) Short Interest Update

Talkspace, Inc. (NASDAQ:TALK) was the recipient of a large decline in short interest in the month of October. As of October 31st, there was short interest totalling 5,070,000 shares, a decline of 20.7% from the October 15th total of 6,390,000 shares. Based on an average daily trading volume, of 2,160,000 shares, the days-to-cover ratio is currently 2.3 days. Approximately 3.7% of the shares of the company are short sold.

Insider Buying and Selling at Talkspace

In related news, CFO Ian Jiro Harris bought 23,100 shares of Talkspace stock in a transaction that occurred on Thursday, September 19th. The stock was purchased at an average cost of $2.11 per share, with a total value of $48,741.00. Following the purchase, the chief financial officer now owns 397,657 shares in the company, valued at approximately $839,056.27. This trade represents a 6.17 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 21.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of TALK. Bank of New York Mellon Corp lifted its stake in shares of Talkspace by 2,480.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 353,739 shares of the company’s stock worth $814,000 after acquiring an additional 340,030 shares during the period. Dimensional Fund Advisors LP bought a new stake in shares of Talkspace in the 2nd quarter valued at approximately $921,000. Divisadero Street Capital Management LP boosted its stake in shares of Talkspace by 13.2% in the 2nd quarter. Divisadero Street Capital Management LP now owns 3,111,717 shares of the company’s stock valued at $7,157,000 after purchasing an additional 361,717 shares in the last quarter. Vanguard Group Inc. increased its holdings in Talkspace by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 5,885,681 shares of the company’s stock valued at $21,012,000 after purchasing an additional 84,933 shares in the last quarter. Finally, Principal Financial Group Inc. bought a new stake in Talkspace during the 2nd quarter worth about $38,000. 57.37% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently commented on TALK. Needham & Company LLC reissued a “hold” rating on shares of Talkspace in a research note on Wednesday, October 30th. Barclays increased their price target on shares of Talkspace from $2.00 to $3.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th.

Talkspace Stock Down 4.1 %

Shares of NASDAQ:TALK traded down $0.13 during trading on Friday, hitting $3.04. The stock had a trading volume of 2,053,148 shares, compared to its average volume of 1,615,899. Talkspace has a 12-month low of $1.60 and a 12-month high of $3.92. The stock has a 50-day simple moving average of $2.56 and a two-hundred day simple moving average of $2.37. The stock has a market capitalization of $513.52 million, a price-to-earnings ratio of -304.00 and a beta of 1.11.

Talkspace (NASDAQ:TALK) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.01 earnings per share 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 analyst estimates of $47.50 million. During the same period last year, the business earned ($0.03) EPS. As a group, sell-side analysts forecast that Talkspace will post -0.03 earnings per share for the current year.

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.