Talkspace (NASDAQ:TALK) Sees Large Volume Increase - Time to Buy?

Talkspace, Inc. (NASDAQ:TALK - Get Free Report) shares saw an uptick in trading volume on Tuesday . 2,909,664 shares were traded during mid-day trading, an increase of 88% from the previous session's volume of 1,550,214 shares.The stock last traded at $3.06 and had previously closed at $2.69.

Analysts Set New Price Targets

Several research firms have weighed in on TALK. Needham & Company LLC reiterated a "hold" rating on shares of Talkspace in a report on Tuesday, August 6th. Barclays boosted their target price on shares of Talkspace from $2.00 to $3.00 and gave the company an "equal weight" rating in a report on Tuesday.

Talkspace Trading Up 18.2 %

The firm's fifty day moving average price is $2.18 and its 200 day moving average price is $2.35. The stock has a market capitalization of $534.91 million, a price-to-earnings ratio of -63.60 and a beta of 1.21.

Insider Transactions at Talkspace

In related news, CFO Ian Jiro Harris acquired 23,100 shares of the firm's stock in a transaction dated Thursday, September 19th. The shares were purchased at an average cost of $2.11 per share, for a total transaction of $48,741.00. Following the acquisition, the chief financial officer now owns 397,657 shares in the company, valued at $839,056.27. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 21.70% of the company's stock.

Institutional Investors Weigh In On Talkspace

Hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp lifted its holdings in Talkspace by 2,480.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 353,739 shares of the company's stock worth $814,000 after buying an additional 340,030 shares in the last quarter. Dimensional Fund Advisors LP acquired a new stake in Talkspace during the 2nd quarter worth approximately $921,000. Divisadero Street Capital Management LP lifted its holdings in Talkspace by 13.2% during the 2nd quarter. Divisadero Street Capital Management LP now owns 3,111,717 shares of the company's stock worth $7,157,000 after buying an additional 361,717 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Talkspace by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 5,885,681 shares of the company's stock worth $21,012,000 after buying an additional 84,933 shares in the last quarter. Finally, Advisory Alpha LLC acquired a new stake in Talkspace during the 1st quarter worth approximately $296,000. 57.37% of the stock is currently owned by institutional investors and hedge funds.

About Talkspace

Talkspace, Inc operates as a virtual behavioral healthcare company in the United States. The company offers psychotherapy and psychiatry services through its platform to individuals, enterprises, and health plans and employee assistance programs. It provides text, audio, and video-based psychotherapy from licensed therapists.