HeartBeam, Inc. (NASDAQ:BEAT) Given Consensus Rating of “Moderate Buy” by Brokerages

HeartBeam, Inc. (NASDAQ:BEAT) has been assigned a consensus recommendation of “Moderate Buy” from the nine ratings firms that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $4.00.

BEAT has been the topic of several recent analyst reports. B. Riley Financial started coverage on HeartBeam in a research note on Tuesday, March 31st. They issued a “buy” rating and a $4.00 price target on the stock. D. Boral Capital lowered shares of HeartBeam from a “buy” rating to a “hold” rating in a report on Monday, April 20th. Wall Street Zen raised shares of HeartBeam from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. HC Wainwright lowered their target price on shares of HeartBeam from $5.50 to $2.50 and set a “buy” rating for the company in a research note on Friday, May 22nd. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of HeartBeam in a research report on Thursday, July 2nd.

Institutional Trading of HeartBeam

Several institutional investors have recently added to or reduced their stakes in BEAT. Geode Capital Management LLC lifted its stake in HeartBeam by 4.1% during the fourth quarter. Geode Capital Management LLC now owns 305,740 shares of the medical research company’s stock worth $734,000 after purchasing an additional 12,142 shares in the last quarter. Ritholtz Wealth Management grew its stake in shares of HeartBeam by 49.6% in the fourth quarter. Ritholtz Wealth Management now owns 208,191 shares of the medical research company’s stock valued at $500,000 after buying an additional 69,009 shares in the last quarter. Kestra Private Wealth Services LLC grew its stake in shares of HeartBeam by 23.4% in the third quarter. Kestra Private Wealth Services LLC now owns 175,989 shares of the medical research company’s stock valued at $290,000 after buying an additional 33,344 shares in the last quarter. Sigma Planning Corp raised its holdings in shares of HeartBeam by 115.0% in the 1st quarter. Sigma Planning Corp now owns 132,550 shares of the medical research company’s stock valued at $162,000 after buying an additional 70,900 shares during the period. Finally, State Street Corp raised its holdings in shares of HeartBeam by 60.1% in the 4th quarter. State Street Corp now owns 125,473 shares of the medical research company’s stock valued at $301,000 after buying an additional 47,100 shares during the period. Institutional investors and hedge funds own 7.77% of the company’s stock.

HeartBeam Stock Down 2.8%

Shares of NASDAQ BEAT opened at $0.56 on Friday. The firm has a 50-day simple moving average of $0.78 and a 200-day simple moving average of $1.23. The stock has a market capitalization of $31.03 million, a price-to-earnings ratio of -1.00 and a beta of -0.82. HeartBeam has a 52 week low of $0.51 and a 52 week high of $4.00.

HeartBeam (NASDAQ:BEAT) last posted its quarterly earnings results on Wednesday, May 13th. The medical research company reported ($0.12) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.02. As a group, equities research analysts expect that HeartBeam will post -0.38 EPS for the current year.

HeartBeam Company Profile

BioTelemetry, Inc, a remote medical technology company, provides remote cardiac monitoring, remote blood glucose monitoring, centralized core laboratory services for clinical trials, and original equipment manufacturing services for healthcare and clinical research customers worldwide. It operates in two segments, Healthcare and Research. The Healthcare segment focuses on the remote cardiac monitoring to identify cardiac arrhythmias or heart rhythm disorders. This segment offers mobile cardiac telemetry services; and event monitoring services, which enable physicians to prescribe wireless event, digital loop event, memory loop event, memory loop event, and non-loop event monitors.