HeartBeam, Inc. (NASDAQ:BEAT) Given Average Recommendation of “Moderate Buy” by Brokerages

HeartBeam, Inc. (NASDAQ:BEAT) has been given an average rating of “Moderate Buy” by the nine ratings firms that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $4.00.

BEAT has been the subject of a number of recent analyst reports. Maxim Group began coverage on shares of HeartBeam in a report on Tuesday, July 14th. They issued a “buy” rating and a $2.00 price objective for the company. Wall Street Zen raised shares of HeartBeam from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. Weiss Ratings restated a “sell (e+)” rating on shares of HeartBeam in a research report on Thursday, July 2nd. HC Wainwright dropped their target price on HeartBeam from $5.50 to $2.50 and set a “buy” rating on the stock in a research report on Friday, May 22nd. Finally, Benchmark cut their price target on HeartBeam from $8.00 to $5.00 and set a “speculative buy” rating for the company in a research note on Friday, May 15th.

Institutional Trading of HeartBeam

A number of institutional investors and hedge funds have recently made changes to their positions in the business. CIBC Private Wealth Group LLC purchased a new position in shares of HeartBeam during the 4th quarter valued at approximately $26,000. Raymond James Financial Inc. increased its holdings in HeartBeam by 102.2% in the 2nd quarter. Raymond James Financial Inc. now owns 28,178 shares of the medical research company’s stock worth $35,000 after acquiring an additional 14,242 shares in the last quarter. Truist Financial Corp acquired a new position in HeartBeam during the fourth quarter worth $36,000. Jane Street Group LLC acquired a new position in HeartBeam during the fourth quarter worth $55,000. Finally, Virtu Financial LLC acquired a new position in HeartBeam during the fourth quarter worth $70,000. 7.77% of the stock is currently owned by hedge funds and other institutional investors.

HeartBeam Trading Up 1.6%

HeartBeam stock opened at $0.43 on Friday. HeartBeam has a 12 month low of $0.40 and a 12 month high of $4.00. The stock’s 50 day simple moving average is $0.55 and its two-hundred day simple moving average is $0.88. The firm has a market cap of $24.05 million, a PE ratio of -0.84 and a beta of -0.80.

HeartBeam (NASDAQ:BEAT) last posted its earnings results on Thursday, August 13th. The medical research company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.01). On average, equities research analysts forecast that HeartBeam will post -0.41 EPS for the current year.

HeartBeam Company Profile

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.