HeartBeam (NASDAQ:BEAT) Lowered to “Hold” Rating by D. Boral Capital

HeartBeam (NASDAQ:BEAT) was downgraded by stock analysts at D. Boral Capital from a “buy” rating to a “hold” rating in a report issued on Monday.

A number of other research analysts have also recently issued reports on the stock. Wall Street Zen cut shares of HeartBeam to a “strong sell” rating in a research note on Saturday, January 3rd. B. Riley Financial assumed coverage on HeartBeam in a report on Tuesday, March 31st. They set a “buy” rating and a $4.00 price target for the company. HC Wainwright reiterated a “buy” rating and issued a $5.50 price objective on shares of HeartBeam in a research report on Monday, March 16th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of HeartBeam in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $4.80.

HeartBeam Price Performance

Shares of BEAT stock opened at $0.92 on Monday. HeartBeam has a one year low of $0.54 and a one year high of $4.00. The stock’s fifty day simple moving average is $1.29 and its 200 day simple moving average is $1.61. The firm has a market cap of $37.80 million, a price-to-earnings ratio of -1.48 and a beta of -0.63.

HeartBeam (NASDAQ:BEAT) last posted its earnings results on Thursday, March 12th. The medical research company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.01).

Insider Activity at HeartBeam

In other HeartBeam news, Director Richard Ferrari bought 62,500 shares of the stock in a transaction on Thursday, April 16th. The stock was purchased at an average price of $0.80 per share, with a total value of $50,000.00. Following the acquisition, the director owned 291,636 shares of the company’s stock, valued at approximately $233,308.80. The trade was a 27.28% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mark E. Strome purchased 750,000 shares of the business’s stock in a transaction dated Thursday, April 16th. The stock was bought at an average cost of $0.80 per share, for a total transaction of $600,000.00. Following the purchase, the director owned 3,650,000 shares in the company, valued at $2,920,000. This trade represents a 25.86% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired 1,118,750 shares of company stock worth $895,000 over the last ninety days. Company insiders own 18.04% of the company’s stock.

Hedge Funds Weigh In On HeartBeam

Several hedge funds have recently added to or reduced their stakes in BEAT. Virtu Financial LLC bought a new position in shares of HeartBeam during the fourth quarter worth $70,000. State Street Corp increased its position in shares of HeartBeam by 60.1% in the 4th quarter. State Street Corp now owns 125,473 shares of the medical research company’s stock valued at $301,000 after buying an additional 47,100 shares in the last quarter. Jane Street Group LLC acquired a new stake in HeartBeam during the 4th quarter worth $55,000. Insigneo Advisory Services LLC bought a new position in HeartBeam during the fourth quarter worth about $74,000. Finally, CIBC Private Wealth Group LLC bought a new position in HeartBeam during the fourth quarter worth about $26,000. Institutional investors and hedge funds own 7.77% of the company’s stock.

HeartBeam Company Profile

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.