Short Interest in Talkspace, Inc. (NASDAQ:TALK) Rises By 16.0%

Talkspace, Inc. (NASDAQ:TALK) was the recipient of a large increase in short interest in the month of October. As of October 15th, there was short interest totalling 2,460,000 shares, an increase of 16.0% from the September 30th total of 2,120,000 shares. Currently, 2.2% of the shares of the company are sold short. Based on an average trading volume of 731,200 shares, the days-to-cover ratio is presently 3.4 days.

Institutional Investors Weigh In On Talkspace

Several large investors have recently modified their holdings of the stock. Russell Investments Group Ltd. boosted its position in shares of Talkspace by 1.2% in the second quarter. Russell Investments Group Ltd. now owns 1,489,362 shares of the company’s stock worth $1,891,000 after buying an additional 18,371 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Talkspace by 65.4% in the third quarter. Bank of New York Mellon Corp now owns 61,167 shares of the company’s stock worth $119,000 after buying an additional 24,185 shares during the period. Advisory Alpha LLC acquired a new stake in shares of Talkspace in the third quarter worth $48,000. WINTON GROUP Ltd acquired a new stake in shares of Talkspace in the second quarter worth $32,000. Finally, Geode Capital Management LLC boosted its position in shares of Talkspace by 2.7% in the second quarter. Geode Capital Management LLC now owns 1,004,246 shares of the company’s stock worth $1,275,000 after buying an additional 25,974 shares during the period. 46.36% of the stock is owned by institutional investors.

Talkspace Price Performance

TALK opened at $1.77 on Monday. Talkspace has a 12 month low of $0.52 and a 12 month high of $2.13. The stock has a market cap of $294.73 million, a P/E ratio of -5.90 and a beta of 1.01. The stock’s 50 day moving average price is $1.82 and its 200 day moving average price is $1.41.

Talkspace (NASDAQ:TALK) last issued its quarterly earnings results on Thursday, July 27th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.03. Talkspace had a negative return on equity of 35.11% and a negative net margin of 38.70%. The company had revenue of $35.65 million for the quarter, compared to analysts’ expectations of $33.25 million. Equities analysts anticipate that Talkspace will post -0.17 EPS for the current year.

About Talkspace

Talkspace, Inc operates as a virtual behavioral healthcare company. The company offers psychotherapy and psychiatry services through its platform to individuals, enterprises, and health plans through both business-to-business and business-to-consumer channels. It provides text, audio, and video-based psychotherapy from licensed therapists.