Talkspace (NASDAQ:TALK) Shares Gap Down – Time to Sell?

Talkspace, Inc. (NASDAQ:TALK) gapped down before the market opened on Thursday . The stock had previously closed at $3.86, but opened at $3.21. Talkspace shares last traded at $3.10, with a volume of 3,429,674 shares traded.

Analyst Upgrades and Downgrades

TALK has been the topic of a number of research analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Talkspace in a research note on Friday. Barclays lifted their price target on shares of Talkspace from $2.00 to $3.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. KeyCorp initiated coverage on shares of Talkspace in a research note on Monday, December 9th. They issued an “overweight” rating and a $4.50 price target on the stock. Mizuho initiated coverage on shares of Talkspace in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $5.00 price target on the stock. Finally, Northland Securities initiated coverage on shares of Talkspace in a research note on Wednesday, November 20th. They issued an “outperform” rating and a $5.00 price target on the stock. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Talkspace currently has an average rating of “Buy” and an average price target of $4.38.

Talkspace Stock Performance

The company has a market capitalization of $508.45 million, a price-to-earnings ratio of 301.30 and a beta of 1.14. The firm has a 50-day simple moving average of $3.30 and a two-hundred day simple moving average of $2.80.

Talkspace (NASDAQ:TALK) last released its earnings results on Thursday, February 20th. The company reported $0.01 earnings per share for the quarter, meeting the consensus estimate of $0.01. The company had revenue of $48.72 million during the quarter, compared to the consensus estimate of $49.94 million. Talkspace had a return on equity of 0.98% and a net margin of 0.61%. As a group, equities analysts forecast that Talkspace, Inc. will post 0.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Talkspace

Institutional investors and hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. grew its position in shares of Talkspace by 448.3% during the third quarter. JPMorgan Chase & Co. now owns 526,972 shares of the company’s stock worth $1,101,000 after buying an additional 430,861 shares in the last quarter. Evernest Financial Advisors LLC acquired a new position in shares of Talkspace during the fourth quarter worth about $337,000. Royce & Associates LP acquired a new position in shares of Talkspace during the third quarter worth about $1,045,000. Barclays PLC grew its position in shares of Talkspace by 322.3% during the third quarter. Barclays PLC now owns 175,990 shares of the company’s stock worth $368,000 after buying an additional 134,313 shares in the last quarter. Finally, State Street Corp grew its position in shares of Talkspace by 36.4% during the third quarter. State Street Corp now owns 2,176,589 shares of the company’s stock worth $4,549,000 after buying an additional 580,826 shares in the last quarter. 57.37% of the stock is 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.