HeartBeam, Inc. (NASDAQ:BEAT) Receives Average Recommendation of “Moderate Buy” from Analysts

HeartBeam, Inc. (NASDAQ:BEAT) has been given a consensus rating of “Moderate Buy” by the eight research firms that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $4.80.

A number of brokerages recently commented on BEAT. Wall Street Zen cut shares of HeartBeam to a “strong sell” rating in a research report on Saturday, January 3rd. Weiss Ratings reiterated a “sell (e+)” rating on shares of HeartBeam in a research report on Monday, December 29th. HC Wainwright restated a “buy” rating and set a $5.50 target price on shares of HeartBeam in a report on Monday, March 16th. B. Riley Financial started coverage on HeartBeam in a report on Tuesday, March 31st. They set a “buy” rating and a $4.00 target price for the company. Finally, UBS Group restated a “speculative buy” rating on shares of HeartBeam in a report on Thursday, December 11th.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in BEAT. Clarity Financial LLC bought a new stake in HeartBeam during the 4th quarter valued at $25,000. Bessemer Group Inc. purchased a new position in shares of HeartBeam in the third quarter valued at about $25,000. CIBC Private Wealth Group LLC purchased a new position in shares of HeartBeam in the fourth quarter valued at about $26,000. Raymond James Financial Inc. increased its position in shares of HeartBeam by 102.2% in the second quarter. Raymond James Financial Inc. now owns 28,178 shares of the medical research company’s stock valued at $35,000 after acquiring an additional 14,242 shares during the period. Finally, Truist Financial Corp purchased a new position in shares of HeartBeam in the fourth quarter valued at about $36,000. 7.77% of the stock is owned by hedge funds and other institutional investors.

HeartBeam Trading Down 0.0%

Shares of HeartBeam stock traded down $0.00 on Thursday, hitting $1.19. 37,995 shares of the company traded hands, compared to its average volume of 1,258,300. The firm’s 50-day simple moving average is $71.92 and its 200 day simple moving average is $56.82. The company has a market cap of $48.89 million, a P/E ratio of -1.92 and a beta of -0.63. HeartBeam has a 12-month low of $0.54 and a 12-month high of $4.00.

HeartBeam (NASDAQ:BEAT) last posted its quarterly earnings data on Thursday, March 12th. The medical research company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.01).

About HeartBeam

BioTelemetry, Inc, a remote medical technology company, provides remote cardiac monitoring, remote blood glucose monitoring, centralized core laboratory services for clinical trials, and original equipment manufacturing services for healthcare and clinical research customers worldwide. It operates in two segments, Healthcare and Research. The Healthcare segment focuses on the remote cardiac monitoring to identify cardiac arrhythmias or heart rhythm disorders. This segment offers mobile cardiac telemetry services; and event monitoring services, which enable physicians to prescribe wireless event, digital loop event, memory loop event, memory loop event, and non-loop event monitors.