HeartSciences (NASDAQ:HSCS) Trading Down 1.4% – Here’s Why

HeartSciences Inc. (NASDAQ:HSCS) shares fell 1.4% on Wednesday . The stock traded as low as $2.0050 and last traded at $2.04. 19,167 shares were traded during mid-day trading, a decline of 43% from the average session volume of 33,735 shares. The stock had previously closed at $2.07.

Analyst Upgrades and Downgrades

Several research firms have weighed in on HSCS. Ascendiant Capital Markets lowered their price objective on shares of HeartSciences from $9.00 to $8.00 and set a “buy” rating for the company in a research report on Tuesday, March 24th. Weiss Ratings restated a “sell (e+)” rating on shares of HeartSciences in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $8.00.

HeartSciences Stock Performance

The firm’s 50-day moving average price is $2.03 and its 200 day moving average price is $2.57. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.04 and a current ratio of 1.19. The company has a market cap of $6.17 million, a price-to-earnings ratio of -0.39 and a beta of 1.96.

HeartSciences (NASDAQ:HSCS) last issued its quarterly earnings results on Monday, March 16th. The company reported ($0.63) EPS for the quarter, topping the consensus estimate of ($0.84) by $0.21. On average, sell-side analysts anticipate that HeartSciences Inc. will post -3.28 EPS for the current year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in HeartSciences stock. Geode Capital Management LLC bought a new stake in HeartSciences Inc. (NASDAQ:HSCS) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 11,599 shares of the company’s stock, valued at approximately $43,000. Geode Capital Management LLC owned approximately 0.51% of HeartSciences as of its most recent filing with the Securities and Exchange Commission (SEC). 17.24% of the stock is owned by institutional investors and hedge funds.

About HeartSciences

HeartSciences, Inc (NASDAQ: HSCS) is a medical device company focused on the development and commercialization of advanced, non?invasive cardiac diagnostic technologies. The company’s flagship product, MyoVista, is a high?fidelity electrocardiograph (ECG) designed to detect subtle changes in cardiac function that may indicate myocardial ischemia or left ventricular dysfunction. By leveraging high?frequency wavelet analysis within the QRS complex, MyoVista provides clinicians with enhanced visualization and analytical capabilities that extend beyond those of standard ECG systems.

HeartSciences supports the MyoVista system with an integrated software suite that automates data analysis and report generation, facilitating seamless integration into existing clinical workflows.