Talkspace, Inc. (NASDAQ:TALK) Sees Large Increase in Short Interest

Talkspace, Inc. (NASDAQ:TALK) was the recipient of a large increase in short interest in the month of December. As of December 31st, there was short interest totalling 5,630,000 shares, an increase of 22.9% from the December 15th total of 4,580,000 shares. Based on an average daily trading volume, of 1,830,000 shares, the short-interest ratio is currently 3.1 days. Currently, 4.1% of the company’s shares are short sold.

Hedge Funds Weigh In On Talkspace

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TALK. State Street Corp raised its position in shares of Talkspace by 36.4% during the 3rd quarter. State Street Corp now owns 2,176,589 shares of the company’s stock worth $4,549,000 after purchasing an additional 580,826 shares during the last quarter. Royce & Associates LP purchased a new stake in shares of Talkspace in the third quarter valued at $1,045,000. JPMorgan Chase & Co. boosted its stake in shares of Talkspace by 448.3% during the third quarter. JPMorgan Chase & Co. now owns 526,972 shares of the company’s stock valued at $1,101,000 after acquiring an additional 430,861 shares during the last quarter. Dimensional Fund Advisors LP purchased a new stake in Talkspace during the 2nd quarter worth about $921,000. Finally, Divisadero Street Capital Management LP lifted its holdings in 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. Institutional investors and hedge funds own 57.37% of the company’s stock.

Talkspace Price Performance

Shares of TALK stock traded down $0.02 during trading hours on Friday, reaching $3.02. 757,260 shares of the company’s stock were exchanged, compared to its average volume of 962,124. Talkspace has a 1 year low of $1.60 and a 1 year high of $3.92. The company has a market cap of $510.14 million, a P/E ratio of -302.00 and a beta of 1.14. The company’s 50 day moving average is $3.22 and its two-hundred day moving average is $2.55.

Talkspace (NASDAQ:TALK) last released its earnings results on Tuesday, October 29th. The company reported $0.01 EPS for the quarter. The company had revenue of $47.40 million during the quarter, compared to the consensus estimate of $47.50 million. Talkspace had a negative return on equity of 1.17% and a negative net margin of 0.76%. During the same quarter last year, the company earned ($0.03) earnings per share. As a group, analysts predict that Talkspace will post 0.02 EPS for the current fiscal year.

Wall Street Analyst Weigh In

TALK has been the topic of several research analyst reports. KeyCorp assumed coverage on Talkspace in a report on Monday, December 9th. They issued an “overweight” rating and a $4.50 price objective on the stock. Mizuho assumed coverage on Talkspace in a research report on Wednesday, December 4th. They set an “outperform” rating and a $5.00 price objective on the stock. Barclays boosted their target price on Talkspace from $2.00 to $3.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. Needham & Company LLC reiterated a “hold” rating on shares of Talkspace in a research note on Wednesday, October 30th. Finally, Northland Securities initiated coverage on shares of Talkspace in a research note on Wednesday, November 20th. They set an “outperform” rating and a $5.00 target price on the stock. Two analysts have rated the stock with a hold rating, two have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $4.38.

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.