Talkspace (NASDAQ:TALK) Shares Gap Down - Here's Why

Talkspace, Inc. (NASDAQ:TALK - Get Free Report)'s share price gapped down before the market opened on Thursday . The stock had previously closed at $3.86, but opened at $3.21. Talkspace shares last traded at $3.10, with a volume of 3,429,674 shares.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on TALK. Mizuho assumed coverage on Talkspace in a report on Wednesday, December 4th. They issued an "outperform" rating and a $5.00 price target on the stock. Needham & Company LLC reaffirmed a "hold" rating on shares of Talkspace in a research note on Friday. Northland Securities initiated coverage on shares of Talkspace in a research report on Wednesday, November 20th. They set an "outperform" rating and a $5.00 target price for the company. Northland Capmk raised shares of Talkspace to a "strong-buy" rating in a report on Wednesday, November 20th. Finally, KeyCorp assumed coverage on shares of Talkspace in a research report on Monday, December 9th. They set an "overweight" rating and a $4.50 price objective on the stock. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $4.38.

Talkspace Stock Performance

The company has a market cap of $508.46 million, a P/E ratio of -301.00 and a beta of 1.14. The stock has a 50-day moving average of $3.30 and a two-hundred day moving average of $2.80.

Talkspace (NASDAQ:TALK - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.01 earnings per share for the quarter, hitting analysts' consensus estimates of $0.01. Talkspace had a negative net margin of 0.76% and a negative return on equity of 1.17%. The firm had revenue of $48.72 million during the quarter, compared to analyst estimates of $49.94 million. As a group, sell-side analysts forecast that Talkspace, Inc. will post 0.02 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC purchased a new stake in Talkspace during the 3rd quarter valued at about $99,000. Creative Planning boosted its stake in shares of Talkspace by 30.6% during the third quarter. Creative Planning now owns 26,386 shares of the company's stock valued at $55,000 after purchasing an additional 6,179 shares during the period. Clear Harbor Asset Management LLC bought a new position in shares of Talkspace in the third quarter worth approximately $84,000. Aigen Investment Management LP increased its stake in shares of Talkspace by 37.8% in the third quarter. Aigen Investment Management LP now owns 35,568 shares of the company's stock worth $74,000 after buying an additional 9,766 shares during the period. Finally, Royce & Associates LP bought a new stake in Talkspace during the 3rd quarter valued at $1,045,000. 57.37% of the stock is owned by institutional investors.

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.