HeartSciences Inc. (NASDAQ:HSCS) Sees Large Decrease in Short Interest

HeartSciences Inc. (NASDAQ:HSCS) saw a significant drop in short interest in the month of September. As of September 15th, there was short interest totaling 39,859 shares, a drop of 65.1% from the August 31st total of 114,152 shares. Based on an average trading volume of 131,326 shares, the days-to-cover ratio is currently 0.3 days. Currently, 0.9% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of HeartSciences in a report on Monday, September 21st. Wall Street Zen raised shares of HeartSciences from a “sell” rating to a “hold” rating in a research report on Sunday, September 20th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, HeartSciences has an average rating of “Hold” and a consensus target price of $8.00.

HeartSciences Trading Up 2.2%

Shares of HSCS stock traded up $0.10 during midday trading on Friday, reaching $4.73. 97,695 shares of the stock were exchanged, compared to its average volume of 146,063. HeartSciences has a 1 year low of $1.63 and a 1 year high of $5.25. The firm has a market cap of $22.70 million, a PE ratio of -1.47 and a beta of 1.85. The company’s 50 day moving average is $3.01 and its two-hundred day moving average is $2.50.

HeartSciences (NASDAQ:HSCS) last released its earnings results on Monday, September 14th. The company reported ($0.86) EPS for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.14). The firm had revenue of $0.00 million during the quarter, compared to the consensus estimate of $0.10 million. As a group, equities analysts expect that HeartSciences will post -2.99 EPS for the current fiscal year.

HeartSciences Company Profile

HeartSciences, Inc is a medical technology company focused on improving the detection and management of cardiovascular disease. The company develops electrocardiography (ECG) technologies intended to provide clinicians with additional information about cardiac function using a test that is widely available in healthcare settings.

Its principal technology is the MyoVista wavECG system, which applies proprietary signal-processing methods, including wavelet analysis, to standard 12-lead ECG data.