Talkspace (NASDAQ:TALK) Shares Gap Down – Should You Sell?

Talkspace, Inc. (NASDAQ:TALK)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $3.86, but opened at $3.21. Talkspace shares last traded at $3.10, with a volume of 3,429,674 shares traded.

Analyst Ratings Changes

A number of equities research analysts have recently commented on TALK shares. Needham & Company LLC reiterated a “hold” rating on shares of Talkspace in a research note on Wednesday, October 30th. Barclays increased their price target on Talkspace from $2.00 to $3.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. Northland Capmk upgraded Talkspace to a “strong-buy” rating in a research note on Wednesday, November 20th. KeyCorp initiated coverage on shares of Talkspace in a research note on Monday, December 9th. They issued an “overweight” rating and a $4.50 target price for the company. Finally, Mizuho assumed coverage on shares of Talkspace in a research note on Wednesday, December 4th. They set an “outperform” rating and a $5.00 price target on the stock. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Talkspace presently has a consensus rating of “Buy” and an average price target of $4.38.

Talkspace Trading Down 17.5 %

The stock has a fifty day simple moving average of $3.30 and a two-hundred day simple moving average of $2.79. The firm has a market cap of $538.01 million, a PE ratio of -318.50 and a beta of 1.14.

Talkspace (NASDAQ:TALK) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.01 EPS for the quarter, meeting the consensus estimate of $0.01. Talkspace had a negative net margin of 0.76% and a negative return on equity of 1.17%. As a group, sell-side analysts predict that Talkspace, Inc. will post 0.02 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Talkspace

A number of institutional investors and hedge funds have recently made changes to their positions in TALK. SG Americas Securities LLC purchased a new position in shares of Talkspace during the third quarter worth about $99,000. Creative Planning increased its holdings in shares of Talkspace by 30.6% in the 3rd quarter. Creative Planning now owns 26,386 shares of the company’s stock worth $55,000 after buying an additional 6,179 shares during the last quarter. Clear Harbor Asset Management LLC purchased a new stake in shares of Talkspace during the 3rd quarter valued at $84,000. Aigen Investment Management LP lifted its holdings in shares of Talkspace by 37.8% during the 3rd quarter. Aigen Investment Management LP now owns 35,568 shares of the company’s stock worth $74,000 after acquiring an additional 9,766 shares during the last quarter. Finally, Royce & Associates LP purchased a new stake in Talkspace during the third quarter valued at about $1,045,000. Hedge funds and other institutional investors own 57.37% of the company’s stock.

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.