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

HeartBeam, Inc. (NASDAQ:BEAT) has been given a consensus recommendation of “Moderate Buy” by the nine brokerages that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, five have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $4.00.

A number of research firms have recently issued reports on BEAT. Maxim Group began coverage on HeartBeam in a research report on Tuesday, July 14th. They issued a “buy” rating and a $2.00 price target for the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of HeartBeam in a research note on Thursday, July 2nd. HC Wainwright reduced their price target on HeartBeam from $5.50 to $2.50 and set a “buy” rating on the stock in a report on Friday, May 22nd. Benchmark lowered their price target on shares of HeartBeam from $8.00 to $5.00 and set a “speculative buy” rating on the stock in a research report on Friday, May 15th. Finally, Wall Street Zen raised shares of HeartBeam from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th.

Institutional Trading of HeartBeam

Hedge funds have recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of HeartBeam during the 2nd quarter worth approximately $741,000. Geode Capital Management LLC lifted its holdings in HeartBeam by 4.1% in the fourth quarter. Geode Capital Management LLC now owns 305,740 shares of the medical research company’s stock valued at $734,000 after acquiring an additional 12,142 shares during the last quarter. Sigma Planning Corp lifted its holdings in HeartBeam by 86.9% in the second quarter. Sigma Planning Corp now owns 247,700 shares of the medical research company’s stock valued at $186,000 after acquiring an additional 115,150 shares during the last quarter. Beacon Pointe Advisors LLC purchased a new position in HeartBeam in the second quarter worth approximately $185,000. Finally, Kestra Private Wealth Services LLC increased its stake in HeartBeam by 23.4% during the third quarter. Kestra Private Wealth Services LLC now owns 175,989 shares of the medical research company’s stock worth $290,000 after acquiring an additional 33,344 shares during the last quarter. Hedge funds and other institutional investors own 7.77% of the company’s stock.

HeartBeam Trading Up 1.6%

BEAT stock opened at $0.43 on Friday. HeartBeam has a 12-month low of $0.40 and a 12-month high of $4.00. The stock has a market cap of $24.05 million, a price-to-earnings ratio of -0.84 and a beta of -0.80. The business’s 50-day moving average is $0.55 and its 200 day moving average is $0.88.

HeartBeam (NASDAQ:BEAT) last posted its quarterly earnings data on Thursday, August 13th. The medical research company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.01). As a group, equities analysts forecast that HeartBeam will post -0.41 EPS for the current fiscal year.

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.