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

HeartBeam, Inc. (NASDAQ:BEAT) has earned a consensus rating of “Moderate Buy” from the nine ratings firms that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned 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 target among analysts that have issued ratings on the stock in the last year is $4.00.

A number of research firms have issued reports on BEAT. Weiss Ratings reiterated a “sell (e+)” rating on shares of HeartBeam in a report on Thursday, July 2nd. Wall Street Zen raised HeartBeam from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. B. Riley Financial started coverage on HeartBeam in a research note on Tuesday, March 31st. They issued a “buy” rating and a $4.00 price objective on the stock. Maxim Group began coverage on HeartBeam in a research note on Tuesday. They issued a “buy” rating and a $2.00 price objective on the stock. Finally, HC Wainwright decreased their target price on HeartBeam from $5.50 to $2.50 and set a “buy” rating for the company in a report on Friday, May 22nd.

Hedge Funds Weigh In On HeartBeam

Several hedge funds and other institutional investors have recently made changes to their positions in BEAT. Sigma Planning Corp grew its position in shares of HeartBeam by 115.0% during the first quarter. Sigma Planning Corp now owns 132,550 shares of the medical research company’s stock worth $162,000 after buying an additional 70,900 shares in the last quarter. Virtu Financial LLC acquired a new stake in HeartBeam in the fourth quarter valued at approximately $70,000. State Street Corp raised its holdings in HeartBeam by 60.1% in the fourth quarter. State Street Corp now owns 125,473 shares of the medical research company’s stock valued at $301,000 after acquiring an additional 47,100 shares in the last quarter. Jane Street Group LLC purchased a new position in HeartBeam in the fourth quarter worth approximately $55,000. Finally, Insigneo Advisory Services LLC purchased a new position in HeartBeam in the fourth quarter worth approximately $74,000. Hedge funds and other institutional investors own 7.77% of the company’s stock.

HeartBeam Stock Performance

Shares of BEAT opened at $0.56 on Friday. The company’s 50-day simple moving average is $0.78 and its 200-day simple moving average is $1.23. HeartBeam has a 1 year low of $0.51 and a 1 year high of $4.00. The stock has a market capitalization of $31.03 million, a PE ratio of -1.00 and a beta of -0.82.

HeartBeam (NASDAQ:BEAT) last announced its quarterly earnings data on Wednesday, May 13th. The medical research company reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.02. On average, sell-side analysts predict that HeartBeam will post -0.38 earnings per share for the current 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.