HeartBeam, Inc. (NASDAQ:BEAT) Stock Has Average Target Price of $4.00

Shares of HeartBeam, Inc. (NASDAQ:BEAT) have been given an average rating of “Moderate Buy” by the eight analysts that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $4.00.

Several brokerages have issued reports on BEAT. Weiss Ratings raised shares of HeartBeam from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday. Wall Street Zen raised shares of HeartBeam to a “sell” rating in a report on Saturday, October 10th. Maxim Group initiated coverage on shares of HeartBeam in a research report on Tuesday, July 14th. They issued a “buy” rating and a $2.00 price objective for the company. Finally, HC Wainwright reaffirmed a “neutral” rating on shares of HeartBeam in a report on Tuesday, October 6th.

HeartBeam Price Performance

Shares of BEAT opened at $0.55 on Monday. The stock has a market cap of $30.99 million, a PE ratio of -1.08 and a beta of -0.84. HeartBeam has a twelve month low of $0.35 and a twelve month high of $4.00. The business’s 50-day moving average price is $0.44 and its 200-day moving average price is $0.88.

HeartBeam (NASDAQ:BEAT) last released its earnings results on Thursday, August 13th. The medical research company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.01). Analysts expect that HeartBeam will post -0.37 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in BEAT. Sigma Planning Corp increased its position in HeartBeam by 56.3% during the third quarter. Sigma Planning Corp now owns 387,200 shares of the medical research company’s stock worth $142,000 after buying an additional 139,500 shares in the last quarter. Beacon Pointe Advisors LLC acquired a new position in HeartBeam during the 2nd quarter worth $185,000. Finally, BlackRock Inc. acquired a new stake in HeartBeam in the 2nd quarter valued at about $741,000. Hedge funds and other institutional investors own 7.77% of the company’s stock.

HeartBeam Company Profile

HeartBeam, Inc is a medical technology company developing portable and digital solutions for cardiac monitoring. Its proprietary technology is designed to capture, analyze and transmit electrocardiogram (ECG) data outside traditional clinical settings, with a focus on helping identify cardiac events such as atrial fibrillation and heart attacks.

The company’s flagship product is the HeartBeam AIMIGo system, which combines a compact, credit-card-sized ECG device with a smartphone application.