HeartBeam (NASDAQ:BEAT) Earns Buy Rating from Analysts at Maxim Group

Maxim Group initiated coverage on shares of HeartBeam (NASDAQ:BEAT) in a research report report published on Tuesday, MarketBeat Ratings reports. The brokerage issued a buy rating and a $2.00 target price on the medical research company’s stock.

Several other equities analysts have also commented on BEAT. Weiss Ratings reissued a “sell (e+)” rating on shares of HeartBeam in a report on Thursday, July 2nd. Wall Street Zen raised HeartBeam from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. B. Riley Financial started coverage on HeartBeam in a research report on Tuesday, March 31st. They set a “buy” rating and a $4.00 price objective for the company. Benchmark dropped their price objective on HeartBeam from $8.00 to $5.00 and set a “speculative buy” rating on the stock in a report on Friday, May 15th. Finally, D. Boral Capital lowered HeartBeam from a “buy” rating to a “hold” rating in a research report on Monday, April 20th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, HeartBeam currently has a consensus rating of “Moderate Buy” and an average target price of $4.00.

HeartBeam Stock Down 12.9%

NASDAQ BEAT opened at $0.58 on Tuesday. HeartBeam has a 52 week low of $0.51 and a 52 week high of $4.00. The stock has a market capitalization of $31.93 million, a PE ratio of -1.03 and a beta of -0.82. The firm has a 50 day moving average of $0.79 and a two-hundred day moving average of $1.23.

HeartBeam (NASDAQ:BEAT) last announced its quarterly earnings data on Wednesday, May 13th. The medical research company reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.02. On average, equities research analysts expect that HeartBeam will post -0.38 earnings per share for the current fiscal year.

Institutional Investors Weigh In On HeartBeam

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Clarity Financial LLC acquired a new position in HeartBeam in the fourth quarter valued at $25,000. CIBC Private Wealth Group LLC purchased a new position in shares of HeartBeam during the fourth quarter worth about $26,000. Raymond James Financial Inc. increased its position in shares of HeartBeam by 102.2% during the second quarter. Raymond James Financial Inc. now owns 28,178 shares of the medical research company’s stock worth $35,000 after purchasing an additional 14,242 shares in the last quarter. Truist Financial Corp acquired a new stake in shares of HeartBeam during the fourth quarter worth about $36,000. Finally, Jane Street Group LLC purchased a new stake in shares of HeartBeam in the 4th quarter valued at about $55,000. 7.77% of the stock is currently owned by institutional investors and hedge funds.

About HeartBeam

BioTelemetry, Inc, a remote medical technology company, provides remote cardiac monitoring, remote blood glucose monitoring, centralized core laboratory services for clinical trials, and original equipment manufacturing services for healthcare and clinical research customers worldwide. It operates in two segments, Healthcare and Research. The Healthcare segment focuses on the remote cardiac monitoring to identify cardiac arrhythmias or heart rhythm disorders. This segment offers mobile cardiac telemetry services; and event monitoring services, which enable physicians to prescribe wireless event, digital loop event, memory loop event, memory loop event, and non-loop event monitors.