HeartCore Enterprises (NASDAQ:HTCR) Trading Down 1.1% After Earnings Miss

HeartCore Enterprises, Inc. (NASDAQ:HTCR)’s stock price was down 1.1% on Monday following a dissappointing earnings announcement. The company traded as low as $2.62 and last traded at $2.63. Approximately 30,367 shares were traded during trading, a decline of 58% from the average daily volume of 72,358 shares. The stock had previously closed at $2.66.

The company reported ($1.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($1.46). The firm had revenue of $1.25 million for the quarter, compared to the consensus estimate of $5.50 million. HeartCore Enterprises had a negative return on equity of 119.78% and a negative net margin of 67.96%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut HeartCore Enterprises from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, April 24th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, HeartCore Enterprises currently has an average rating of “Reduce”.

Institutional Investors Weigh In On HeartCore Enterprises

A number of hedge funds have recently added to or reduced their stakes in HTCR. XTX Topco Ltd bought a new stake in shares of HeartCore Enterprises during the fourth quarter valued at about $28,000. Board of Trustees of The Leland Stanford Junior University bought a new stake in shares of HeartCore Enterprises during the fourth quarter valued at about $30,000. Jane Street Group LLC raised its stake in shares of HeartCore Enterprises by 85.7% during the fourth quarter. Jane Street Group LLC now owns 113,176 shares of the company’s stock valued at $35,000 after purchasing an additional 52,217 shares in the last quarter. Finally, Virtu Financial LLC raised its stake in shares of HeartCore Enterprises by 306.7% during the third quarter. Virtu Financial LLC now owns 44,829 shares of the company’s stock valued at $36,000 after purchasing an additional 33,807 shares in the last quarter. 1.71% of the stock is currently owned by institutional investors.

HeartCore Enterprises Trading Down 1.1%

The business’s 50 day moving average is $3.78 and its two-hundred day moving average is $6.61. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $3.34 million, a P/E ratio of -0.22 and a beta of 1.56.

HeartCore Enterprises Company Profile

HeartCore Enterprises, Inc, a software development company, provides Software as a Service solutions to enterprise customers in Japan and internationally. Its customer experience management platform includes marketing, sales, service, and content management systems, as well as other tools and integrations, which enable companies to enhance the customer experience and drive engagement. The company also operates a digital transformation business that offers customers with robotics process automation, process mining, and task mining to accelerate the digital transformation of enterprises.