HeartCore Enterprises (NASDAQ:HTCR) Shares Up 3.6% – Here’s Why

Shares of HeartCore Enterprises, Inc. (NASDAQ:HTCR) rose 3.6% on Monday . The company traded as high as $3.28 and last traded at $3.18. Approximately 39,313 shares traded hands during mid-day trading, a decline of 70% from the average daily volume of 129,602 shares. The stock had previously closed at $3.07.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded HeartCore Enterprises from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, April 24th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce”.

HeartCore Enterprises Stock Performance

The stock has a fifty day simple moving average of $3.24 and a two-hundred day simple moving average of $5.23. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.10.

HeartCore Enterprises (NASDAQ:HTCR) last issued its earnings results on Friday, May 15th. The company reported ($1.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($1.46). The business had revenue of $1.25 million during the quarter, compared to analyst estimates of $5.50 million. HeartCore Enterprises had a negative net margin of 67.96% and a negative return on equity of 115.26%.

Institutional Investors Weigh In On HeartCore Enterprises

Hedge funds have recently modified their holdings of the company. XTX Topco Ltd acquired a new stake in shares of HeartCore Enterprises during the 4th quarter valued at $28,000. Board of Trustees of The Leland Stanford Junior University acquired a new stake in shares of HeartCore Enterprises during the 4th quarter valued at $30,000. Jane Street Group LLC boosted its holdings in shares of HeartCore Enterprises by 85.7% during the 4th quarter. Jane Street Group LLC now owns 113,176 shares of the company’s stock valued at $35,000 after acquiring an additional 52,217 shares in the last quarter. Finally, Virtu Financial LLC boosted its holdings in shares of HeartCore Enterprises by 306.7% during the 3rd quarter. Virtu Financial LLC now owns 44,829 shares of the company’s stock valued at $36,000 after acquiring an additional 33,807 shares in the last quarter. Institutional investors and hedge funds own 1.71% of the company’s stock.

HeartCore Enterprises Company Profile

HeartCore Enterprises, Inc, a software development company, provides Software as a Service solutions to enterprise customers in Japan and internationally. Its customer experience management platform includes marketing, sales, service, and content management systems, as well as other tools and integrations, which enable companies to enhance the customer experience and drive engagement. The company also operates a digital transformation business that offers customers with robotics process automation, process mining, and task mining to accelerate the digital transformation of enterprises.