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

HeartSciences Inc. (NASDAQ:HSCS) saw a large increase in short interest in February. As of February 27th, there was short interest totaling 37,981 shares, an increase of 27.6% from the February 12th total of 29,772 shares. Based on an average daily volume of 9,560 shares, the short-interest ratio is presently 4.0 days. Currently, 1.2% of the company’s stock are sold short. Currently, 1.2% of the company’s stock are sold short. Based on an average daily volume of 9,560 shares, the short-interest ratio is presently 4.0 days.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Ascendiant Capital Markets lifted their price objective on shares of HeartSciences from $9.00 to $9.20 and gave the company a “buy” rating in a report on Monday, December 22nd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of HeartSciences in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, HeartSciences presently has a consensus rating of “Hold” and a consensus target price of $9.20.

HeartSciences Stock Up 5.1%

HeartSciences stock traded up $0.13 during midday trading on Tuesday, hitting $2.70. 901 shares of the stock were exchanged, compared to its average volume of 23,142. HeartSciences has a 52-week low of $2.01 and a 52-week high of $6.47. The business’s 50-day moving average price is $3.01 and its 200-day moving average price is $3.06. The stock has a market capitalization of $8.59 million, a price-to-earnings ratio of -0.39 and a beta of 2.53.

HeartSciences (NASDAQ:HSCS) last posted its earnings results on Thursday, March 12th. The company reported ($0.63) EPS for the quarter, topping the consensus estimate of ($0.84) by $0.21. On average, sell-side analysts predict that HeartSciences will post -10.01 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. TFB Advisors LLC bought a new position in shares of HeartSciences during the 3rd quarter valued at approximately $105,000. Geode Capital Management LLC raised its holdings in shares of HeartSciences by 110.7% in the 4th quarter. Geode Capital Management LLC now owns 26,928 shares of the company’s stock worth $83,000 after purchasing an additional 14,150 shares during the period. Finally, DRW Securities LLC lifted its stake in HeartSciences by 13.7% in the fourth quarter. DRW Securities LLC now owns 95,065 shares of the company’s stock valued at $294,000 after purchasing an additional 11,455 shares during the last quarter. Hedge funds and other institutional investors own 17.24% of the company’s stock.

About HeartSciences

HeartSciences, Inc (NASDAQ: HSCS) is a medical device company focused on the development and commercialization of advanced, non‐invasive cardiac diagnostic technologies. The company’s flagship product, MyoVista, is a high‐fidelity electrocardiograph (ECG) designed to detect subtle changes in cardiac function that may indicate myocardial ischemia or left ventricular dysfunction. By leveraging high‐frequency wavelet analysis within the QRS complex, MyoVista provides clinicians with enhanced visualization and analytical capabilities that extend beyond those of standard ECG systems.

HeartSciences supports the MyoVista system with an integrated software suite that automates data analysis and report generation, facilitating seamless integration into existing clinical workflows.