Talkspace (NASDAQ:TALK) Reaches New 52-Week High – Here’s Why

Shares of Talkspace, Inc. (NASDAQ:TALK) hit a new 52-week high during 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.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Barclays boosted 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. Northland Securities initiated coverage on Talkspace in a research report on Wednesday, November 20th. They set an “outperform” rating and a $5.00 price target on the stock. Northland Capmk upgraded shares of Talkspace to a “strong-buy” rating in a research note on Wednesday, November 20th. Mizuho started coverage on shares of Talkspace in a report on Wednesday, December 4th. They issued an “outperform” rating and a $5.00 price target for the company. Finally, KeyCorp initiated coverage on shares of Talkspace in a research note on Monday, December 9th. They set an “overweight” rating and a $4.50 price objective on the stock. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Talkspace currently has an average rating of “Buy” and a consensus target price of $4.38.

Talkspace Trading Up 3.8 %

The firm’s 50-day simple moving average is $3.21 and its 200 day simple moving average is $2.68. The stock has a market cap of $674.84 million, a P/E ratio of -399.40 and a beta of 1.14.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. State Street Corp lifted its holdings in Talkspace by 36.4% in the third quarter. State Street Corp now owns 2,176,589 shares of the company’s stock worth $4,549,000 after purchasing an additional 580,826 shares during the period. Royce & Associates LP bought a new stake in shares of Talkspace during the 3rd quarter worth about $1,045,000. JPMorgan Chase & Co. boosted its holdings in shares of Talkspace by 448.3% in the third quarter. JPMorgan Chase & Co. now owns 526,972 shares of the company’s stock valued at $1,101,000 after acquiring an additional 430,861 shares in the last quarter. Dimensional Fund Advisors LP acquired a new position in shares of Talkspace during the second quarter valued at approximately $921,000. Finally, Clearline Capital LP grew its holdings in Talkspace by 28.1% during the third quarter. Clearline Capital LP now owns 1,248,756 shares of the company’s stock worth $2,610,000 after acquiring an additional 273,994 shares during the period. Institutional investors 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.