Talkspace (NASDAQ:TALK) Sets New 12-Month High – Here’s What Happened

Talkspace, Inc. (NASDAQ:TALK) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $4.15 and last traded at $3.99, with a volume of 602985 shares traded. The stock had previously closed at $3.85.

Wall Street Analysts Forecast Growth

TALK has been the topic of a number of recent research reports. Northland Capmk upgraded shares of Talkspace to a “strong-buy” rating in a research report on Wednesday, November 20th. KeyCorp assumed coverage on shares of Talkspace in a report on Monday, December 9th. They set an “overweight” rating and a $4.50 target price on the stock. Barclays boosted their price target on shares of Talkspace from $2.00 to $3.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. Needham & Company LLC reaffirmed a “hold” rating on shares of Talkspace in a research note on Wednesday, October 30th. Finally, Northland Securities began coverage on Talkspace in a report on Wednesday, November 20th. They issued an “outperform” rating and a $5.00 price objective on the stock. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Talkspace presently has a consensus rating of “Buy” and an average price target of $4.38.

Talkspace Trading Down 2.2 %

The company has a market capitalization of $677.38 million, a P/E ratio of -401.00 and a beta of 1.14. The stock’s fifty day moving average is $3.23 and its 200 day moving average is $2.71.

Hedge Funds Weigh In On Talkspace

Several hedge funds and other institutional investors have recently modified their holdings of TALK. Creative Planning lifted its stake in Talkspace by 30.6% in the third quarter. Creative Planning now owns 26,386 shares of the company’s stock worth $55,000 after acquiring an additional 6,179 shares during the period. MetLife Investment Management LLC increased its position in Talkspace by 27.1% during the 3rd quarter. MetLife Investment Management LLC now owns 41,140 shares of the company’s stock valued at $86,000 after purchasing an additional 8,764 shares during the period. Aigen Investment Management LP raised its holdings in Talkspace by 37.8% in the 3rd quarter. Aigen Investment Management LP now owns 35,568 shares of the company’s stock worth $74,000 after purchasing an additional 9,766 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Talkspace by 2.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 389,312 shares of the company’s stock worth $1,203,000 after purchasing an additional 10,835 shares during the period. Finally, Cibc World Markets Corp bought a new stake in shares of Talkspace during the 4th quarter valued at about $36,000. 57.37% of the stock is 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.