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

Shares of 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

Several research firms recently weighed in on TALK. KeyCorp started coverage on Talkspace in a research note on Monday, December 9th. They set an “overweight” rating and a $4.50 target price for the company. Barclays boosted their price objective on Talkspace from $2.00 to $3.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. Northland Capmk upgraded Talkspace to a “strong-buy” rating in a research note on Wednesday, November 20th. Needham & Company LLC reiterated a “hold” rating on shares of Talkspace in a research note on Friday. Finally, Northland Securities started coverage on Talkspace in a research note on Wednesday, November 20th. They issued an “outperform” rating and a $5.00 price objective for the company. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $4.38.

Talkspace Price Performance

The company has a 50 day moving average price of $3.30 and a 200 day moving average price of $2.80. The firm has a market cap of $508.45 million, a PE ratio of 301.30 and a beta of 1.14.

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

Institutional Investors Weigh In On Talkspace

Large investors have recently modified their holdings of the stock. Sugar Maple Asset Management LLC purchased a new stake in shares of Talkspace during the third quarter worth approximately $33,000. Cibc World Markets Corp acquired a new position in Talkspace during the fourth quarter worth $36,000. Belvedere Trading LLC acquired a new position in Talkspace during the fourth quarter worth $37,000. Ameriprise Financial Inc. acquired a new position in Talkspace during the fourth quarter worth $53,000. Finally, Creative Planning grew its holdings in Talkspace by 30.6% during the third quarter. Creative Planning now owns 26,386 shares of the company’s stock worth $55,000 after acquiring an additional 6,179 shares during the period. Hedge funds and other institutional investors own 57.37% of the company’s stock.

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.