Talkspace (NASDAQ:TALK) Shares Gap Up to $3.03

Talkspace, Inc. (NASDAQ:TALK)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $3.03, but opened at $3.10. Talkspace shares last traded at $3.06, with a volume of 53,724 shares.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. TheStreet raised Talkspace from a “d” rating to a “c-” rating in a report on Thursday, February 22nd. Barclays lifted their price target on Talkspace from $2.50 to $3.00 and gave the stock an “equal weight” rating in a research note on Friday, February 23rd.

Talkspace Price Performance

The stock has a 50 day moving average of $3.12 and a two-hundred day moving average of $2.48.

Talkspace (NASDAQ:TALK) last issued its quarterly earnings results on Thursday, February 22nd. The company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.03. Talkspace had a negative return on equity of 16.06% and a negative net margin of 12.78%. The firm had revenue of $42.42 million for the quarter, compared to analysts’ expectations of $38.30 million. During the same quarter last year, the business posted ($0.08) EPS. As a group, analysts expect that Talkspace, Inc. will post -0.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Talkspace

Institutional investors have recently bought and sold shares of the business. Citigroup Inc. boosted its position in Talkspace by 53,648.1% during the 3rd quarter. Citigroup Inc. now owns 43,536 shares of the company’s stock worth $85,000 after acquiring an additional 43,455 shares during the period. Bank of New York Mellon Corp boosted its position in Talkspace by 65.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 61,167 shares of the company’s stock worth $119,000 after acquiring an additional 24,185 shares during the period. EAM Investors LLC acquired a new stake in Talkspace during the 3rd quarter worth about $1,787,000. Potomac Capital Management Inc. acquired a new stake in Talkspace during the 3rd quarter worth about $108,000. Finally, Advisory Alpha LLC acquired a new stake in shares of Talkspace during the 3rd quarter valued at about $48,000. 57.37% of the stock is currently owned by institutional investors and hedge funds.

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.