Talkspace, Inc. (NASDAQ:TALK) Short Interest Up 22.9% in December

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

Talkspace Price Performance

TALK stock traded down $0.02 during midday trading on Friday, hitting $3.02. 757,260 shares of the stock traded hands, compared to its average volume of 962,124. The stock’s fifty day simple moving average is $3.22 and its 200-day simple moving average is $2.55. The firm has a market cap of $510.14 million, a P/E ratio of -302.00 and a beta of 1.14. Talkspace has a 1-year low of $1.60 and a 1-year high of $3.92.

Talkspace (NASDAQ:TALK) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.01 earnings per share for the quarter. The firm had revenue of $47.40 million during the quarter, compared to analyst estimates 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 in the previous year, the business earned ($0.03) EPS. On average, research analysts predict that Talkspace will post 0.02 earnings per share for the current year.

Institutional Trading of Talkspace

Several large investors have recently bought and sold shares of TALK. Sugar Maple Asset Management LLC acquired a new position in shares of Talkspace during the 3rd quarter worth approximately $33,000. Creative Planning grew its holdings in Talkspace by 30.6% in the 3rd quarter. Creative Planning now owns 26,386 shares of the company’s stock valued at $55,000 after buying an additional 6,179 shares in the last quarter. Intech Investment Management LLC purchased a new stake in Talkspace in the 3rd quarter valued at $56,000. Aigen Investment Management LP increased its stake in shares of Talkspace by 37.8% in the 3rd quarter. Aigen Investment Management LP now owns 35,568 shares of the company’s stock worth $74,000 after acquiring an additional 9,766 shares during the last quarter. Finally, Clear Harbor Asset Management LLC purchased a new position in shares of Talkspace during the 3rd quarter worth $84,000. Hedge funds and other institutional investors own 57.37% of the company’s stock.

Analyst Upgrades and Downgrades

TALK has been the topic of a number of recent research reports. Mizuho began 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 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 report on Tuesday, October 29th. Needham & Company LLC reissued a “hold” rating on shares of Talkspace in a research report on Wednesday, October 30th. Northland Securities started coverage on shares of Talkspace in a report on Wednesday, November 20th. They issued an “outperform” rating and a $5.00 price target on the stock. Finally, Northland Capmk raised Talkspace to a “strong-buy” rating in a research report on Wednesday, November 20th. 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 MarketBeat, Talkspace presently has a consensus rating of “Buy” and a consensus price target of $4.38.

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.