HeartBeam, Inc. (NASDAQ:BEAT) Stock Has Average Price Target of $4.00 According to Analysts

Shares of HeartBeam, Inc. (NASDAQ:BEAT) have received a consensus recommendation of “Moderate Buy” from the nine analysts that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, three have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $4.00.

Several analysts recently issued reports on the stock. Wall Street Zen upgraded shares of HeartBeam to a “sell” rating in a research report on Saturday, October 10th. HC Wainwright reissued a “neutral” rating on shares of HeartBeam in a research note on Tuesday, October 6th. Maxim Group assumed coverage on shares of HeartBeam in a research report on Tuesday, July 14th. They set a “buy” rating and a $2.00 price objective for the company. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of HeartBeam in a report on Tuesday, September 29th.

HeartBeam Price Performance

Shares of HeartBeam stock opened at $0.39 on Monday. The company has a market capitalization of $22.16 million, a price-to-earnings ratio of -0.77 and a beta of -0.76. HeartBeam has a 12-month low of $0.35 and a 12-month high of $4.00. The firm’s 50-day moving average price is $0.44 and its two-hundred day moving average price is $0.65.

HeartBeam (NASDAQ:BEAT) last released its earnings results on Thursday, August 13th. The medical research company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.01). On average, sell-side analysts expect that HeartBeam will post -0.37 earnings per share for the current year.

Institutional Trading of HeartBeam

Several institutional investors and hedge funds have recently modified their holdings of BEAT. Sigma Planning Corp lifted its position in shares of HeartBeam by 56.3% during the 3rd quarter. Sigma Planning Corp now owns 387,200 shares of the medical research company’s stock worth $142,000 after buying an additional 139,500 shares during the last quarter. Beacon Pointe Advisors LLC bought a new position in HeartBeam in the second quarter valued at about $185,000. Finally, BlackRock Inc. bought a new position in HeartBeam in the second quarter valued at about $741,000. 7.77% of the stock is currently owned by institutional investors.

HeartBeam Company Profile

HeartBeam, Inc is a medical technology company developing portable cardiac-monitoring solutions designed to help detect and evaluate heart conditions outside traditional clinical settings. Its technology is intended to provide patients and healthcare professionals with more comprehensive electrocardiogram (ECG) information than conventional single-lead wearable devices.

The company’s primary product is the HeartBeam AIMIGo system, a compact, cable-free device that records a three-dimensional, vector-based ECG.