Talkspace (NASDAQ:TALK) Stock Price Down 6% - Time to Sell?

Talkspace, Inc. (NASDAQ:TALK - Get Free Report)'s stock price fell 6% during mid-day trading on Wednesday . The stock traded as low as $3.83 and last traded at $3.85. 1,420,759 shares changed hands during trading, a decline of 8% from the average session volume of 1,550,479 shares. The stock had previously closed at $4.09.

Wall Street Analyst Weigh In

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

Talkspace Price Performance

The stock has a market capitalization of $508.46 million, a P/E ratio of -301.00 and a beta of 1.14. The stock's fifty day moving average is $3.30 and its 200-day moving average is $2.80.

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

Institutional Investors Weigh In On Talkspace

A number of large investors have recently bought and sold shares of TALK. SG Americas Securities LLC bought a new stake in Talkspace in the third quarter worth $99,000. Creative Planning boosted its holdings in 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 acquiring an additional 6,179 shares during the period. Clear Harbor Asset Management LLC bought a new stake in Talkspace during the third quarter valued at about $84,000. Aigen Investment Management LP boosted its holdings in Talkspace by 37.8% during the third quarter. Aigen Investment Management LP now owns 35,568 shares of the company's stock valued at $74,000 after acquiring an additional 9,766 shares during the period. Finally, Royce & Associates LP bought a new stake in Talkspace during the third quarter valued at about $1,045,000. 57.37% of the stock is currently 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.