HeartBeam, Inc. (NASDAQ:BEAT) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of HeartBeam, Inc. (NASDAQ:BEAT) have been assigned a consensus rating of “Moderate Buy” from the eight brokerages that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, five have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $4.80.

BEAT has been the topic of a number of analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of HeartBeam in a research report on Monday, December 29th. UBS Group reaffirmed a “speculative buy” rating on shares of HeartBeam in a research note on Thursday, December 11th. HC Wainwright reaffirmed a “buy” rating and set a $5.50 target price on shares of HeartBeam in a research note on Monday, March 16th. D. Boral Capital started coverage on shares of HeartBeam in a research note on Friday, March 27th. They set a “buy” rating and a $5.00 target price on the stock. Finally, Wall Street Zen lowered shares of HeartBeam to a “strong sell” rating in a research note on Saturday, January 3rd.

Institutional Investors Weigh In On HeartBeam

A number of large investors have recently modified their holdings of the stock. Geode Capital Management LLC boosted its stake in shares of HeartBeam by 4.1% during the 4th quarter. Geode Capital Management LLC now owns 305,740 shares of the medical research company’s stock valued at $734,000 after purchasing an additional 12,142 shares in the last quarter. Ritholtz Wealth Management boosted its stake in shares of HeartBeam by 49.6% during the 4th quarter. Ritholtz Wealth Management now owns 208,191 shares of the medical research company’s stock valued at $500,000 after purchasing an additional 69,009 shares in the last quarter. Kestra Private Wealth Services LLC boosted its stake in shares of HeartBeam by 23.4% during the 3rd quarter. Kestra Private Wealth Services LLC now owns 175,989 shares of the medical research company’s stock valued at $290,000 after purchasing an additional 33,344 shares in the last quarter. State Street Corp boosted its stake in shares of HeartBeam by 60.1% during the 4th quarter. State Street Corp now owns 125,473 shares of the medical research company’s stock valued at $301,000 after purchasing an additional 47,100 shares in the last quarter. Finally, Spectrum Asset Management Inc. NB CA boosted its stake in shares of HeartBeam by 26.9% during the 4th quarter. Spectrum Asset Management Inc. NB CA now owns 94,400 shares of the medical research company’s stock valued at $227,000 after purchasing an additional 20,000 shares in the last quarter. Institutional investors own 7.77% of the company’s stock.

HeartBeam Trading Down 0.0%

Shares of BEAT stock traded down $0.00 during mid-day trading on Thursday, reaching $1.19. The stock had a trading volume of 37,995 shares, compared to its average volume of 1,258,300. The stock’s 50-day moving average price is $71.92 and its two-hundred day moving average price is $56.82. HeartBeam has a 52-week low of $0.54 and a 52-week high of $4.00. The firm has a market capitalization of $48.89 million, a PE ratio of -1.92 and a beta of -0.63.

HeartBeam (NASDAQ:BEAT) last released its quarterly earnings data on Thursday, March 12th. The medical research company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.01).

About HeartBeam

BioTelemetry, Inc, a remote medical technology company, provides remote cardiac monitoring, remote blood glucose monitoring, centralized core laboratory services for clinical trials, and original equipment manufacturing services for healthcare and clinical research customers worldwide. It operates in two segments, Healthcare and Research. The Healthcare segment focuses on the remote cardiac monitoring to identify cardiac arrhythmias or heart rhythm disorders. This segment offers mobile cardiac telemetry services; and event monitoring services, which enable physicians to prescribe wireless event, digital loop event, memory loop event, memory loop event, and non-loop event monitors.