Talkspace, Inc. (NASDAQ:TALK) Short Interest Down 14.3% in March

Talkspace, Inc. (NASDAQ:TALK) was the target of a significant decline in short interest in the month of March. As of March 15th, there was short interest totalling 4,240,000 shares, a decline of 14.3% from the February 28th total of 4,950,000 shares. Currently, 3.1% of the shares of the company are short sold. Based on an average daily volume of 2,000,000 shares, the short-interest ratio is currently 2.1 days.

Talkspace Price Performance

Shares of TALK stock opened at $2.79 on Thursday. The stock has a market cap of $469.94 million, a P/E ratio of 279.28 and a beta of 1.15. The stock has a fifty day moving average price of $3.13 and a 200 day moving average price of $3.00. Talkspace has a one year low of $1.60 and a one year high of $4.36.

Talkspace (NASDAQ:TALK) last issued 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 business had revenue of $48.72 million for the quarter, compared to analyst estimates of $49.94 million. Talkspace had a net margin of 0.61% and a return on equity of 0.98%. Equities research analysts anticipate that Talkspace will post 0.08 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Mizuho assumed coverage on Talkspace in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $5.00 price objective for the company. Needham & Company LLC reissued a “hold” rating on shares of Talkspace in a report on Friday, February 21st. KeyCorp assumed coverage on shares of Talkspace in a research report on Monday, December 9th. They issued an “overweight” rating and a $4.50 price target on the stock. Finally, Canaccord Genuity Group began coverage on shares of Talkspace in a research report on Thursday. They set a “buy” rating and a $5.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $4.50.

Insider Transactions at Talkspace

In other Talkspace news, CEO Jon R. Cohen bought 75,000 shares of the stock in a transaction on Friday, February 28th. The shares were purchased at an average price of $2.86 per share, with a total value of $214,500.00. Following the acquisition, the chief executive officer now directly owns 2,267,980 shares of the company’s stock, valued at $6,486,422.80. This represents a 3.42 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders have acquired 82,270 shares of company stock worth $235,312. Company insiders own 21.70% of the company’s stock.

Institutional Investors Weigh In On Talkspace

Several large investors have recently modified their holdings of TALK. Vanguard Group Inc. raised its holdings in shares of Talkspace by 4.6% in the 4th quarter. Vanguard Group Inc. now owns 7,180,787 shares of the company’s stock worth $22,189,000 after buying an additional 315,741 shares in the last quarter. Deutsche Bank AG raised its stake in Talkspace by 103.1% during the fourth quarter. Deutsche Bank AG now owns 4,615,485 shares of the company’s stock worth $14,262,000 after acquiring an additional 2,342,913 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Talkspace by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 3,077,361 shares of the company’s stock valued at $9,512,000 after acquiring an additional 63,072 shares during the period. State Street Corp boosted its stake in shares of Talkspace by 36.4% in the 3rd quarter. State Street Corp now owns 2,176,589 shares of the company’s stock valued at $4,549,000 after purchasing an additional 580,826 shares in the last quarter. Finally, Voss Capital LP bought a new stake in shares of Talkspace in the 4th quarter worth about $3,981,000. 57.37% of the stock is currently owned by institutional investors.

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.