Talkspace, Inc. (NASDAQ:TALK) Sees Large Decrease in Short Interest

Talkspace, Inc. (NASDAQ:TALK) was the recipient of a significant drop in short interest in October. As of October 31st, there was short interest totalling 5,070,000 shares, a drop of 20.7% from the October 15th total of 6,390,000 shares. Approximately 3.7% of the company’s shares are sold short. Based on an average daily volume of 2,160,000 shares, the days-to-cover ratio is currently 2.3 days.

Insider Activity

In other Talkspace news, CFO Ian Jiro Harris purchased 23,100 shares of the business’s stock in a transaction dated Thursday, September 19th. The shares were bought at an average price of $2.11 per share, for a total transaction of $48,741.00. Following the completion of the acquisition, the chief financial officer now owns 397,657 shares in the company, valued at approximately $839,056.27. This trade represents a 6.17 % 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 link. Insiders own 21.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Talkspace by 1.5% during the first quarter. Vanguard Group Inc. now owns 5,885,681 shares of the company’s stock valued at $21,012,000 after acquiring an additional 84,933 shares in the last quarter. Virtu Financial LLC acquired a new stake in Talkspace in the 1st quarter valued at $74,000. Bank of New York Mellon Corp increased its stake in Talkspace by 2,480.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 353,739 shares of the company’s stock valued at $814,000 after purchasing an additional 340,030 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Talkspace during the 2nd quarter valued at $264,000. Finally, Principal Financial Group Inc. acquired a new position in Talkspace during the second quarter worth $38,000. 57.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Barclays upped their price target on Talkspace from $2.00 to $3.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. Needham & Company LLC reiterated a “hold” rating on shares of Talkspace in a report on Wednesday, October 30th.

Talkspace Stock Down 4.1 %

Talkspace stock traded down $0.13 during trading hours on Friday, reaching $3.04. 2,053,252 shares of the company’s stock were exchanged, compared to its average volume of 1,615,899. Talkspace has a twelve month low of $1.60 and a twelve month high of $3.92. The firm’s 50 day simple moving average is $2.56 and its 200 day simple moving average is $2.37. The firm has a market capitalization of $513.52 million, a PE ratio of -304.00 and a beta of 1.11.

Talkspace (NASDAQ:TALK) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.01 earnings per share for the quarter. Talkspace had a negative net margin of 0.76% and a negative return on equity of 1.17%. The company had revenue of $47.40 million during the quarter, compared to analyst estimates of $47.50 million. During the same quarter in the previous year, the business posted ($0.03) EPS. Analysts anticipate that Talkspace will post -0.03 EPS for the current year.

Talkspace Company Profile

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.