HeartCore Enterprises (NASDAQ:HTCR) Stock Price Down 5.8% – Here’s Why

Shares of HeartCore Enterprises, Inc. (NASDAQ:HTCR) fell 5.8% during mid-day trading on Wednesday . The company traded as low as $0.2345 and last traded at $0.2448. 74,597 shares traded hands during mid-day trading, a decline of 31% from the average session volume of 108,473 shares. The stock had previously closed at $0.26.

Wall Street Analyst Weigh In

Several brokerages have recently commented on HTCR. Wall Street Zen upgraded HeartCore Enterprises to a “hold” rating in a research report on Saturday, October 25th. Zacks Research downgraded HeartCore Enterprises from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of HeartCore Enterprises in a report on Monday, December 29th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce”.

HeartCore Enterprises Stock Down 5.8%

The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.40 and a current ratio of 1.40. The firm has a market capitalization of $6.22 million, a PE ratio of -0.40 and a beta of 1.97. The company has a fifty day moving average price of $0.34 and a 200-day moving average price of $0.61.

HeartCore Enterprises (NASDAQ:HTCR) last announced its quarterly earnings results on Tuesday, November 18th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.10). The business had revenue of $2.99 million during the quarter, compared to the consensus estimate of $6.90 million. HeartCore Enterprises had a negative return on equity of 252.45% and a negative net margin of 67.96%. As a group, analysts expect that HeartCore Enterprises, Inc. will post 0.39 earnings per share for the current year.

Institutional Trading of HeartCore Enterprises

A hedge fund recently raised its stake in HeartCore Enterprises stock. Virtu Financial LLC increased its stake in HeartCore Enterprises, Inc. (NASDAQ:HTCR) by 306.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,829 shares of the company’s stock after acquiring an additional 33,807 shares during the period. Virtu Financial LLC owned approximately 0.19% of HeartCore Enterprises worth $36,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 1.71% of the company’s stock.

HeartCore Enterprises Company Profile

HeartCore Enterprises, Inc, a software development company, provides Software as a Service solutions to enterprise customers in Japan and internationally. Its customer experience management platform includes marketing, sales, service, and content management systems, as well as other tools and integrations, which enable companies to enhance the customer experience and drive engagement. The company also operates a digital transformation business that offers customers with robotics process automation, process mining, and task mining to accelerate the digital transformation of enterprises.