HeartCore Enterprises (NASDAQ:HTCR) Stock Price Down 5.8% – Here’s Why

Shares of HeartCore Enterprises, Inc. (NASDAQ:HTCR) were down 5.8% during mid-day trading on Wednesday . The company traded as low as $0.2345 and last traded at $0.2448. Approximately 74,597 shares were traded during trading, a decline of 31% from the average daily volume of 108,473 shares. The stock had previously closed at $0.26.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on HTCR shares. Weiss Ratings reissued a “sell (d-)” rating on shares of HeartCore Enterprises in a research report on Monday, December 29th. Zacks Research lowered shares of HeartCore Enterprises from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th. Finally, Wall Street Zen raised shares of HeartCore Enterprises to a “hold” rating in a research note on Saturday, October 25th. 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, HeartCore Enterprises has an average rating of “Reduce”.

HeartCore Enterprises Stock Performance

The firm has a market capitalization of $6.22 million, a P/E ratio of -0.40 and a beta of 1.97. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.40 and a quick ratio of 1.40. The firm has a 50-day moving average price of $0.34 and a two-hundred day moving average price of $0.61.

HeartCore Enterprises (NASDAQ:HTCR) last posted its quarterly earnings results on Tuesday, November 18th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.10). HeartCore Enterprises had a negative return on equity of 252.45% and a negative net margin of 67.96%.The company had revenue of $2.99 million during the quarter, compared to the consensus estimate of $6.90 million. On average, analysts forecast that HeartCore Enterprises, Inc. will post 0.39 EPS for the current fiscal year.

Institutional Trading of HeartCore Enterprises

An institutional investor recently raised its position in HeartCore Enterprises stock. Virtu Financial LLC lifted its position in HeartCore Enterprises, Inc. (NASDAQ:HTCR) by 306.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 44,829 shares of the company’s stock after purchasing an additional 33,807 shares during the period. Virtu Financial LLC owned 0.19% of HeartCore Enterprises worth $36,000 at the end of the most recent quarter. Institutional investors 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.