HeartSciences Inc. (NASDAQ:HSCS) Sees Significant Drop in Short Interest

HeartSciences Inc. (NASDAQ:HSCS) was the target of a significant decline in short interest in the month of September. As of September 15th, there was short interest totaling 39,859 shares, a decline of 65.1% from the August 31st total of 114,152 shares. Approximately 0.9% of the shares of the company are short sold. Based on an average daily trading volume, of 131,326 shares, the short-interest ratio is currently 0.3 days.

HeartSciences Trading Down 4.7%

NASDAQ:HSCS traded down $0.22 during mid-day trading on Monday, hitting $4.51. The stock had a trading volume of 80,688 shares, compared to its average volume of 811,830. HeartSciences has a 52 week low of $1.63 and a 52 week high of $5.25. The stock has a market capitalization of $21.64 million, a price-to-earnings ratio of -1.40 and a beta of 1.85. The company has a 50 day simple moving average of $3.01 and a 200-day simple moving average of $2.50.

HeartSciences (NASDAQ:HSCS) last posted its earnings results on Monday, September 14th. The company reported ($0.86) EPS for the quarter, missing the consensus estimate of ($0.72) by ($0.14). The business had revenue of $0.00 million for the quarter, compared to analysts’ expectations of $0.10 million. As a group, equities research analysts anticipate that HeartSciences will post -2.99 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently issued reports on HSCS. Wall Street Zen raised shares of HeartSciences from a “sell” rating to a “hold” rating in a research note on Sunday, September 20th. Weiss Ratings reiterated a “sell (e+)” rating on shares of HeartSciences in a research note on Monday, September 21st. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $8.00.

HeartSciences Company Profile

HeartSciences, Inc is a medical technology company focused on improving the detection and management of cardiovascular disease. The company develops electrocardiography (ECG) technologies intended to provide clinicians with additional information about cardiac function using a test that is widely available in healthcare settings.

Its principal technology is the MyoVista wavECG system, which applies proprietary signal-processing methods, including wavelet analysis, to standard 12-lead ECG data.