HeartCore Enterprises (NASDAQ:HTCR) Trading Down 1.1% After Earnings Miss

HeartCore Enterprises, Inc. (NASDAQ:HTCR)’s stock price fell 1.1% during trading on Monday following a dissappointing earnings announcement. The stock traded as low as $2.62 and last traded at $2.63. 30,367 shares traded hands during mid-day trading, a decline of 58% from the average session volume of 72,358 shares. The stock had previously closed at $2.66.

The company reported ($1.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($1.46). HeartCore Enterprises had a negative net margin of 67.96% and a negative return on equity of 119.78%. The firm had revenue of $1.25 million during the quarter, compared to analyst estimates of $5.50 million.

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut HeartCore Enterprises from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, April 24th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Reduce”.

Hedge Funds Weigh In On HeartCore Enterprises

Several institutional investors and hedge funds have recently made changes to their positions in the business. XTX Topco Ltd purchased a new position in shares of HeartCore Enterprises during the 4th quarter valued at approximately $28,000. Board of Trustees of The Leland Stanford Junior University purchased a new position in shares of HeartCore Enterprises during the 4th quarter valued at approximately $30,000. Jane Street Group LLC boosted its stake in shares of HeartCore Enterprises by 85.7% during the 4th quarter. Jane Street Group LLC now owns 113,176 shares of the company’s stock valued at $35,000 after buying an additional 52,217 shares during the last quarter. Finally, Virtu Financial LLC boosted its stake in shares of HeartCore Enterprises by 306.7% during the 3rd quarter. Virtu Financial LLC now owns 44,829 shares of the company’s stock valued at $36,000 after buying an additional 33,807 shares during the last quarter. 1.71% of the stock is currently owned by hedge funds and other institutional investors.

HeartCore Enterprises Stock Performance

The company has a market capitalization of $3.34 million, a PE ratio of -0.22 and a beta of 1.56. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.58 and a current ratio of 1.58. The company has a 50 day moving average price of $3.78 and a 200 day moving average price of $6.61.

About HeartCore Enterprises

HeartCore Enterprises, Inc, a software development company, provides Software as a Service solutions to enterprise customers in Japan and internationally. Its customer experience management platform includes marketing, sales, service, and content management systems, as well as other tools and integrations, which enable companies to enhance the customer experience and drive engagement. The company also operates a digital transformation business that offers customers with robotics process automation, process mining, and task mining to accelerate the digital transformation of enterprises.