HeartSciences (NASDAQ:HSCS) Posts Quarterly Earnings Results, Beats Estimates By $0.05 EPS

HeartSciences (NASDAQ:HSCS) posted its quarterly earnings data on Monday. The company reported ($0.85) EPS for the quarter, beating the consensus estimate of ($0.90) by $0.05, Zacks reports.

HeartSciences Price Performance

Shares of HeartSciences stock traded down $0.08 during trading on Monday, hitting $2.47. 410,198 shares of the stock were exchanged, compared to its average volume of 55,668. The firm’s 50-day moving average price is $3.01 and its 200 day moving average price is $3.43. The stock has a market cap of $6.55 million, a price-to-earnings ratio of -0.30 and a beta of 2.57. HeartSciences has a 12-month low of $2.01 and a 12-month high of $6.47.

Institutional Trading of HeartSciences

An institutional investor recently bought a new position in HeartSciences stock. Geode Capital Management LLC bought a new stake in HeartSciences Inc. (NASDAQ:HSCS) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 11,599 shares of the company’s stock, valued at approximately $43,000. Geode Capital Management LLC owned approximately 0.51% of HeartSciences at the end of the most recent quarter. 17.24% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of HeartSciences in a research report on Monday, December 8th. Ascendiant Capital Markets reduced their price objective on HeartSciences from $15.00 to $9.00 and set a “buy” rating on the stock in a research note on Wednesday, October 1st. Finally, Wall Street Zen raised HeartSciences from a “sell” rating to a “hold” rating in a research note on Friday, October 3rd. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $10.50.

About HeartSciences

Heart Test Laboratories, Inc, a medical technology company, provides cardiovascular diagnostic devices. The company offers MyoVista wavECG, a resting 12-lead electrocardiograph (ECG) to provide diagnostic information related to cardiac dysfunction, as well as conventional ECG information. It serves clinics, doctor's offices, urgent care centers, and hospitals.