HeartBeam, Inc. (NASDAQ:BEAT) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of HeartBeam, Inc. (NASDAQ:BEAT) have earned a consensus recommendation of “Moderate Buy” from the nine analysts that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $4.00.

BEAT has been the subject of several recent analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of HeartBeam in a research note on Thursday, July 2nd. Maxim Group assumed coverage on HeartBeam in a report on Tuesday, July 14th. They issued a “buy” rating and a $2.00 price target for the company. Wall Street Zen upgraded HeartBeam from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. HC Wainwright dropped their price objective on HeartBeam from $5.50 to $2.50 and set a “buy” rating on the stock in a report on Friday, May 22nd. Finally, Benchmark cut their target price on HeartBeam from $8.00 to $5.00 and set a “speculative buy” rating on the stock in a research report on Friday, May 15th.

Institutional Trading of HeartBeam

Several institutional investors have recently added to or reduced their stakes in the stock. Clarity Financial LLC bought a new position in HeartBeam during the 4th quarter valued at $25,000. CIBC Private Wealth Group LLC bought a new stake in shares of HeartBeam in the 4th quarter worth about $26,000. Raymond James Financial Inc. increased its position in shares of HeartBeam by 102.2% in the 2nd quarter. Raymond James Financial Inc. now owns 28,178 shares of the medical research company’s stock worth $35,000 after purchasing an additional 14,242 shares during the last quarter. Truist Financial Corp acquired a new stake in shares of HeartBeam in the 4th quarter valued at about $36,000. Finally, Jane Street Group LLC acquired a new stake in shares of HeartBeam in the 4th quarter valued at about $55,000. 7.77% of the stock is owned by institutional investors and hedge funds.

HeartBeam Trading Up 7.0%

BEAT opened at $0.59 on Wednesday. The company has a fifty day simple moving average of $0.65 and a 200 day simple moving average of $1.00. The firm has a market cap of $32.59 million, a price-to-earnings ratio of -1.05 and a beta of -0.78. HeartBeam has a twelve month low of $0.48 and a twelve month high of $4.00.

HeartBeam (NASDAQ:BEAT) last released its quarterly earnings results on Wednesday, May 13th. The medical research company reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.02. On average, analysts forecast that HeartBeam will post -0.38 earnings per share 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.