HeartCore Enterprises (NASDAQ:HTCR) Trading Down 3.4% – Here’s Why

HeartCore Enterprises, Inc. (NASDAQ:HTCR) shares dropped 3.4% on Thursday . The stock traded as low as $2.24 and last traded at $2.29. 3,466 shares were traded during trading, a decline of 83% from the average daily volume of 20,234 shares. The stock had previously closed at $2.37.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of HeartCore Enterprises in a research report on Tuesday, July 21st. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, HeartCore Enterprises presently has a consensus rating of “Reduce”.

HeartCore Enterprises Stock Down 3.4%

The firm has a fifty day moving average of $2.66 and a 200-day moving average of $3.45. The firm has a market cap of $3.48 million, a P/E ratio of -0.54 and a beta of 1.65.

HeartCore Enterprises (NASDAQ:HTCR) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($1.45) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($1.85). HeartCore Enterprises had a negative return on equity of 138.90% and a net margin of 15.42%.The company had revenue of ($0.69) million for the quarter, compared to the consensus estimate of $6.20 million.

Hedge Funds Weigh In On HeartCore Enterprises

Hedge funds and other institutional investors have recently bought and sold shares of the business. Board of Trustees of The Leland Stanford Junior University bought a new stake in HeartCore Enterprises in the fourth quarter valued at approximately $30,000. XTX Topco Ltd acquired a new position in shares of HeartCore Enterprises during the 4th quarter worth approximately $28,000. Jane Street Group LLC raised its stake in HeartCore Enterprises by 85.7% in 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 during the period. Finally, Virtu Financial LLC lifted its holdings in 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 purchasing an additional 33,807 shares during the last quarter. Institutional investors own 1.71% of the company’s stock.

About HeartCore Enterprises

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.