Northland Securities Begins Coverage on Talkspace (NASDAQ:TALK)

Equities researchers at Northland Securities started coverage on shares of Talkspace (NASDAQ:TALK) in a research report issued to clients and investors on Wednesday, MarketBeat.com reports. The firm set an “outperform” rating and a $5.00 price target on the stock. Northland Securities’ price objective would indicate a potential upside of 51.06% from the company’s previous close.

Several other research firms also recently weighed in on TALK. Needham & Company LLC reissued a “hold” rating on shares of Talkspace in a research report on Wednesday, October 30th. Barclays increased their price objective on Talkspace from $2.00 to $3.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th.

Talkspace Stock Performance

Shares of NASDAQ:TALK opened at $3.31 on Wednesday. The firm has a market cap of $559.13 million, a PE ratio of -334.00 and a beta of 1.11. The firm’s 50 day simple moving average is $2.64 and its 200-day simple moving average is $2.36. Talkspace has a one year low of $1.60 and a one year high of $3.92.

Talkspace (NASDAQ:TALK) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.01 earnings per share (EPS) for the quarter. Talkspace had a negative return on equity of 1.17% and a negative net margin of 0.76%. The business had revenue of $47.40 million for the quarter, compared to the consensus estimate of $47.50 million. During the same period last year, the business posted ($0.03) EPS. Equities research analysts predict that Talkspace will post -0.03 EPS for the current fiscal year.

Insider Transactions at Talkspace

In related news, CFO Ian Jiro Harris purchased 23,100 shares of Talkspace stock in a transaction dated Thursday, September 19th. The shares were acquired at an average cost of $2.11 per share, with a total value of $48,741.00. Following the purchase, the chief financial officer now owns 397,657 shares of the company’s stock, valued at approximately $839,056.27. The trade was a 6.17 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 21.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Sugar Maple Asset Management LLC purchased a new stake in shares of Talkspace during the third quarter worth approximately $33,000. Principal Financial Group Inc. acquired a new stake in shares of Talkspace in the 2nd quarter valued at $38,000. Creative Planning lifted its position in shares of Talkspace by 30.6% during the 3rd quarter. Creative Planning now owns 26,386 shares of the company’s stock worth $55,000 after purchasing an additional 6,179 shares during the last quarter. Intech Investment Management LLC acquired a new position in shares of Talkspace during the third quarter worth $56,000. Finally, Virtu Financial LLC acquired a new stake in Talkspace in the first quarter valued at $74,000. Institutional investors and hedge funds own 57.37% of the company’s stock.

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.