Talkspace, Inc. (NASDAQ:TALK) Short Interest Down 20.7% in October

Talkspace, Inc. (NASDAQ:TALK) was the target of a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 5,070,000 shares, a decline of 20.7% from the October 15th total of 6,390,000 shares. Approximately 3.7% of the shares of the company are short sold. Based on an average trading volume of 2,160,000 shares, the days-to-cover ratio is presently 2.3 days.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Needham & Company LLC reissued a “hold” rating on shares of Talkspace in a research report on Wednesday, October 30th. Barclays lifted their price objective on shares of Talkspace from $2.00 to $3.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th.

Talkspace Price Performance

Talkspace stock traded down $0.13 during mid-day trading on Friday, reaching $3.04. 2,053,252 shares of the company were exchanged, compared to its average volume of 1,615,899. The firm has a market cap of $513.52 million, a PE ratio of -304.00 and a beta of 1.11. The company has a fifty day simple moving average of $2.56 and a 200-day simple moving average of $2.37. Talkspace has a 12 month low of $1.60 and a 12 month high of $3.92.

Talkspace (NASDAQ:TALK) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.01 EPS for the quarter. Talkspace had a negative return on equity of 1.17% and a negative net margin of 0.76%. The business had revenue of $47.40 million during the quarter, compared to the consensus estimate of $47.50 million. During the same quarter in the previous year, the firm earned ($0.03) earnings per share. Sell-side analysts anticipate that Talkspace will post -0.03 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Ian Jiro Harris bought 19,500 shares of the stock in a transaction dated Tuesday, September 17th. The shares were bought at an average price of $2.20 per share, for a total transaction of $42,900.00. Following the completion of the purchase, the chief financial officer now owns 347,057 shares in the company, valued at approximately $763,525.40. This trade represents a 5.95 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 21.70% of the stock is owned by insiders.

Institutional Trading of Talkspace

A number of institutional investors and hedge funds have recently made changes to their positions in TALK. Vanguard Group Inc. raised its position in Talkspace by 1.5% during the first quarter. Vanguard Group Inc. now owns 5,885,681 shares of the company’s stock valued at $21,012,000 after purchasing an additional 84,933 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of Talkspace during the 1st quarter worth $74,000. Bank of New York Mellon Corp raised its holdings in shares of Talkspace by 2,480.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 353,739 shares of the company’s stock worth $814,000 after buying an additional 340,030 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Talkspace during the 2nd quarter worth $264,000. Finally, Principal Financial Group Inc. acquired a new stake in Talkspace in the second quarter valued at about $38,000. Institutional investors own 57.37% of the company’s stock.

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.