Talkspace (NASDAQ:TALK) Sets New 52-Week High – Here’s What Happened

Shares of Talkspace, Inc. (NASDAQ:TALK) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $5.19 and last traded at $5.18, with a volume of 5239881 shares trading hands. The stock had previously closed at $5.15.

Analyst Ratings Changes

A number of brokerages recently commented on TALK. Weiss Ratings restated a “hold (c-)” rating on shares of Talkspace in a report on Monday, December 29th. Needham & Company LLC cut shares of Talkspace from a “buy” rating to a “hold” rating in a research report on Monday, March 9th. William Blair cut shares of Talkspace from a “strong-buy” rating to a “hold” rating in a report on Monday, March 9th. UBS Group reiterated a “buy” rating on shares of Talkspace in a report on Tuesday, December 30th. Finally, KeyCorp downgraded shares of Talkspace from an “overweight” rating to a “hold” rating in a research note on Tuesday, March 10th. One research analyst has rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, Talkspace presently has an average rating of “Hold” and an average target price of $5.56.

Talkspace Trading Up 0.6%

The company has a market cap of $865.45 million, a PE ratio of 103.62 and a beta of 1.18. The company has a fifty day simple moving average of $4.49 and a two-hundred day simple moving average of $3.65.

Talkspace (NASDAQ:TALK) last announced its quarterly earnings data on Thursday, February 19th. The company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01. Talkspace had a return on equity of 6.89% and a net margin of 3.40%.The business had revenue of $63.00 million during the quarter, compared to the consensus estimate of $61.91 million. On average, research analysts anticipate that Talkspace, Inc. will post 0.08 EPS for the current fiscal year.

Institutional Investors Weigh In On Talkspace

A number of large investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Talkspace by 2.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 142,143 shares of the company’s stock worth $364,000 after purchasing an additional 3,924 shares during the last quarter. Parallel Advisors LLC increased its holdings in Talkspace by 25.8% in the third quarter. Parallel Advisors LLC now owns 19,500 shares of the company’s stock valued at $54,000 after buying an additional 4,000 shares during the last quarter. Intech Investment Management LLC raised its stake in Talkspace by 11.9% in the fourth quarter. Intech Investment Management LLC now owns 49,701 shares of the company’s stock valued at $180,000 after buying an additional 5,277 shares in the last quarter. Invesco Ltd. raised its stake in Talkspace by 10.1% in the fourth quarter. Invesco Ltd. now owns 87,765 shares of the company’s stock valued at $319,000 after buying an additional 8,015 shares in the last quarter. Finally, Rhumbline Advisers lifted its holdings in Talkspace by 5.3% during the 3rd quarter. Rhumbline Advisers now owns 180,645 shares of the company’s stock worth $499,000 after buying an additional 9,168 shares during the last quarter. 57.37% of the stock is owned by hedge funds and other institutional investors.

About Talkspace

Talkspace, Inc (NASDAQ:TALK) is a digital mental health company that provides online therapy and psychiatry services through a secure, cloud-based platform. Headquartered in New York City, Talkspace enables individuals and couples to connect with licensed therapists and psychiatrists via text messaging, live audio, and video sessions. The company’s platform is accessible through web and mobile applications, allowing clients to seek professional support anytime and from any location with an internet connection.

The company’s core offerings include therapy plans that range from unlimited text-based messaging with a dedicated therapist to scheduled live video sessions.