Talkspace (NASDAQ:TALK) Shares Gap Up – Here’s Why

Talkspace, Inc. (NASDAQ:TALK)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $2.91, but opened at $3.22. Talkspace shares last traded at $3.13, with a volume of 1,068,560 shares traded.

Analyst Ratings Changes

Several brokerages recently weighed in on TALK. Zacks Research lowered Talkspace from a “hold” rating to a “strong sell” rating in a report on Monday, October 6th. Weiss Ratings reissued a “sell (d)” rating on shares of Talkspace in a report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $4.50.

Talkspace Price Performance

The company has a market capitalization of $505.76 million, a P/E ratio of 151.08 and a beta of 1.12. The company has a fifty day moving average price of $2.63 and a 200 day moving average price of $2.76.

Talkspace (NASDAQ:TALK) last posted its earnings results on Tuesday, August 5th. The company reported $0.00 EPS for the quarter, missing the consensus estimate of $0.01 by ($0.01). The company had revenue of $54.31 million for the quarter, compared to the consensus estimate of $54.08 million. Talkspace had a net margin of 1.41% and a return on equity of 2.48%. Talkspace has set its FY 2025 guidance at EPS. On average, equities research analysts predict that Talkspace, Inc. will post 0.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Talkspace

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TALK. Wealth Enhancement Advisory Services LLC bought a new stake in Talkspace during the 1st quarter valued at $104,000. Josh Arnold Investment Consultant LLC acquired a new position in shares of Talkspace during the first quarter valued at $640,000. Vanguard Group Inc. raised its stake in shares of Talkspace by 6.5% during the first quarter. Vanguard Group Inc. now owns 7,650,330 shares of the company’s stock valued at $19,585,000 after purchasing an additional 469,543 shares in the last quarter. Deutsche Bank AG lifted its holdings in Talkspace by 10.6% in the first quarter. Deutsche Bank AG now owns 5,104,995 shares of the company’s stock worth $13,069,000 after purchasing an additional 489,510 shares during the period. Finally, Ancora Advisors LLC lifted its holdings in Talkspace by 138.9% in the first quarter. Ancora Advisors LLC now owns 525,690 shares of the company’s stock worth $1,346,000 after purchasing an additional 305,660 shares during the period. 57.37% of the stock is owned by institutional investors.

About Talkspace

Talkspace, Inc operates as a virtual behavioral healthcare company in the United States. The company offers psychotherapy and psychiatry services through its platform to individuals, enterprises, and health plans and employee assistance programs. It provides text, audio, and video-based psychotherapy from licensed therapists.