Talkspace (NASDAQ:TALK) Stock Price Down 6% – Here’s Why

Talkspace, Inc. (NASDAQ:TALK) 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 mid-day trading, a decline of 8% from the average session volume of 1,550,479 shares. The stock had previously closed at $4.09.

Analyst Ratings Changes

Several equities analysts have recently issued reports on TALK shares. Northland Securities initiated coverage on shares of Talkspace in a research note on Wednesday, November 20th. They set an “outperform” rating and a $5.00 price target for the company. Mizuho started coverage on Talkspace in a research report on Wednesday, December 4th. They set an “outperform” rating and a $5.00 target price for the company. Barclays upped their price target on Talkspace from $2.00 to $3.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. Needham & Company LLC restated a “hold” rating on shares of Talkspace in a research report on Wednesday, October 30th. Finally, KeyCorp initiated coverage on Talkspace in a report on Monday, December 9th. They issued an “overweight” rating and a $4.50 target price on the stock. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Talkspace currently has an average rating of “Buy” and a consensus price target of $4.38.

Talkspace Trading Down 5.6 %

The company has a 50-day moving average price of $3.28 and a two-hundred day moving average price of $2.77. The stock has a market capitalization of $652.03 million, a P/E ratio of -386.00 and a beta of 1.14.

Hedge Funds Weigh In On Talkspace

A number of institutional investors and hedge funds have recently modified their holdings of TALK. Two Sigma Investments LP boosted its stake in Talkspace by 14.2% during the fourth quarter. Two Sigma Investments LP now owns 668,723 shares of the company’s stock worth $2,066,000 after acquiring an additional 82,921 shares in the last quarter. State of Wyoming acquired a new stake in shares of Talkspace in the 4th quarter valued at about $439,000. Tema Etfs LLC acquired a new stake in shares of Talkspace in the 4th quarter valued at about $81,000. ProShare Advisors LLC increased its position in Talkspace by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 34,622 shares of the company’s stock valued at $107,000 after buying an additional 11,392 shares in the last quarter. Finally, Man Group plc bought a new position in Talkspace in the fourth quarter worth approximately $481,000. 57.37% of the stock is currently owned by institutional investors.

Talkspace Company Profile

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.