Talkspace, Inc. (NASDAQ:TALK) Short Interest Up 21.6% in April

Talkspace, Inc. (NASDAQ:TALK) was the recipient of a significant increase in short interest in the month of April. As of April 15th, there was short interest totalling 3,720,000 shares, an increase of 21.6% from the March 31st total of 3,060,000 shares. Based on an average daily volume of 1,350,000 shares, the short-interest ratio is presently 2.8 days. Currently, 3.1% of the shares of the company are sold short.

Talkspace Price Performance

Talkspace stock traded down $0.03 during mid-day trading on Tuesday, reaching $3.06. The company had a trading volume of 447,082 shares, compared to its average volume of 1,218,004. Talkspace has a 1 year low of $0.74 and a 1 year high of $3.92. The company has a market capitalization of $516.83 million, a P/E ratio of -25.50 and a beta of 1.26. The stock’s 50-day simple moving average is $3.23 and its 200-day simple moving average is $2.55.

Talkspace (NASDAQ:TALK) last issued its earnings results on Thursday, February 22nd. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.03. Talkspace had a negative net margin of 12.78% and a negative return on equity of 16.06%. The company had revenue of $42.42 million during the quarter, compared to analysts’ expectations of $38.30 million. During the same period last year, the company posted ($0.08) earnings per share. On average, equities analysts forecast that Talkspace will post -0.03 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on TALK. Barclays raised their price objective on shares of Talkspace from $2.50 to $3.00 and gave the company an “equal weight” rating in a research report on Friday, February 23rd. TheStreet raised shares of Talkspace from a “d” rating to a “c-” rating in a report on Thursday, February 22nd.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of TALK. Shannon River Fund Management LLC purchased a new position in shares of Talkspace during the 4th quarter worth approximately $12,700,000. G2 Investment Partners Management LLC increased its stake in shares of Talkspace by 522.3% during the 4th quarter. G2 Investment Partners Management LLC now owns 2,874,417 shares of the company’s stock worth $7,301,000 after purchasing an additional 2,412,531 shares in the last quarter. AWM Investment Company Inc. increased its stake in shares of Talkspace by 94.2% during the 3rd quarter. AWM Investment Company Inc. now owns 2,287,724 shares of the company’s stock worth $4,461,000 after purchasing an additional 1,109,876 shares in the last quarter. EAM Investors LLC purchased a new position in shares of Talkspace during the 3rd quarter worth approximately $1,787,000. Finally, Essex Investment Management Co. LLC increased its stake in shares of Talkspace by 11.9% during the 3rd quarter. Essex Investment Management Co. LLC now owns 1,420,067 shares of the company’s stock worth $2,769,000 after purchasing an additional 151,218 shares in the last quarter. 57.37% of the stock is owned by hedge funds and other 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.