HeartBeam (NASDAQ:BEAT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of HeartBeam (NASDAQ:BEAT) to a sell rating in a research note issued to investors on Saturday morning,Wall Street Zen reports.

BEAT has been the topic of several other reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of HeartBeam in a research report on Tuesday, September 29th. Maxim Group began coverage on HeartBeam in a research report on Tuesday, July 14th. They issued a “buy” rating and a $2.00 target price for the company. Finally, HC Wainwright restated a “neutral” rating on shares of HeartBeam in a research report on Tuesday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $4.00.

HeartBeam Price Performance

BEAT stock opened at $0.42 on Friday. HeartBeam has a one year low of $0.35 and a one year high of $4.00. The stock has a market cap of $23.95 million, a PE ratio of -0.83 and a beta of -0.76. The firm has a 50 day simple moving average of $0.46 and a two-hundred day simple moving average of $0.70.

HeartBeam (NASDAQ:BEAT) last posted its quarterly earnings data on Thursday, August 13th. The medical research company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). On average, research analysts expect that HeartBeam will post -0.37 EPS for the current fiscal year.

Institutional Investors Weigh In On HeartBeam

Several institutional investors have recently bought and sold shares of BEAT. BlackRock Inc. purchased a new position in HeartBeam in the 2nd quarter worth approximately $741,000. Sigma Planning Corp lifted its position in HeartBeam by 86.9% in the second quarter. Sigma Planning Corp now owns 247,700 shares of the medical research company’s stock valued at $186,000 after purchasing an additional 115,150 shares during the last quarter. Finally, Beacon Pointe Advisors LLC bought a new stake in HeartBeam in the second quarter valued at approximately $185,000. 7.77% of the stock is currently owned by hedge funds and other institutional investors.

About HeartBeam

HeartBeam, Inc is a medical technology company developing portable cardiac-monitoring solutions designed to help detect and evaluate heart conditions outside traditional clinical settings. Its technology is intended to provide patients and healthcare professionals with more comprehensive electrocardiogram (ECG) information than conventional single-lead wearable devices.

The company’s primary product is the HeartBeam AIMIGo system, a compact, cable-free device that records a three-dimensional, vector-based ECG.