HeartBeam, Inc. (NASDAQ:BEAT) Receives Average Rating of “Moderate Buy” from Analysts

Shares of HeartBeam, Inc. (NASDAQ:BEAT – Get Free Report) have been given an average recommendation of “Moderate Buy” by the nine ratings firms that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $4.00.

Several analysts recently weighed in on the company. Maxim Group initiated coverage on HeartBeam in a research note on Tuesday, July 14th. They issued a “buy” rating and a $2.00 price target on the stock. HC Wainwright reissued a “neutral” rating on shares of HeartBeam in a research note on Tuesday. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of HeartBeam in a report on Tuesday, September 29th.

Check Out Our Latest Stock Analysis on HeartBeam

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in BEAT. Sigma Planning Corp increased its holdings in shares of HeartBeam by 86.9% in the 2nd quarter. Sigma Planning Corp now owns 247,700 shares of the medical research company’s stock worth $186,000 after purchasing an additional 115,150 shares in the last quarter. Beacon Pointe Advisors LLC bought a new position in shares of HeartBeam during the second quarter valued at $185,000. Finally, BlackRock Inc. bought a new position in shares of HeartBeam during the second quarter valued at $741,000. Institutional investors own 7.77% of the company’s stock.

HeartBeam Stock Down 7.0%

Shares of BEAT stock opened at $0.54 on Thursday. HeartBeam has a 52 week low of $0.35 and a 52 week high of $4.00. The firm has a market capitalization of $30.60 million, a price-to-earnings ratio of -1.06 and a beta of -0.76. The stock has a fifty day moving average of $0.47 and a 200 day moving average of $0.72.

HeartBeam (NASDAQ:BEAT – Get Free Report) last released its quarterly earnings results 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). Equities research analysts anticipate that HeartBeam will post -0.37 earnings per share for the current year.

HeartBeam Company Profile

(Get Free Report)

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.

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Analyst Recommendations for HeartBeam (NASDAQ:BEAT)

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