Ascendiant Capital Markets Issues Pessimistic Forecast for HeartSciences (NASDAQ:HSCS) Stock Price

HeartSciences (NASDAQ:HSCS) had its price objective reduced by stock analysts at Ascendiant Capital Markets from $9.00 to $8.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Ascendiant Capital Markets’ price objective would suggest a potential upside of 223.89% from the stock’s current price.

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of HeartSciences in a research report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $8.00.

HeartSciences Stock Up 1.6%

Shares of HSCS stock opened at $2.47 on Tuesday. The company has a current ratio of 1.19, a quick ratio of 1.04 and a debt-to-equity ratio of 0.16. HeartSciences has a 12 month low of $2.01 and a 12 month high of $6.47. The stock has a market cap of $7.85 million, a P/E ratio of -0.50 and a beta of 2.53. The company has a 50 day simple moving average of $2.93 and a two-hundred day simple moving average of $3.02.

HeartSciences (NASDAQ:HSCS) last issued its quarterly earnings results on Thursday, March 12th. The company reported ($0.63) earnings per share for the quarter, topping the consensus estimate of ($0.84) by $0.21. On average, research analysts expect that HeartSciences will post -10.01 earnings per share for the current year.

Hedge Funds Weigh In On HeartSciences

Several large investors have recently added to or reduced their stakes in HSCS. DRW Securities LLC increased its stake in shares of HeartSciences by 13.7% in the fourth quarter. DRW Securities LLC now owns 95,065 shares of the company’s stock worth $294,000 after purchasing an additional 11,455 shares in the last quarter. TFB Advisors LLC purchased a new position in shares of HeartSciences during the 3rd quarter valued at $105,000. Finally, Geode Capital Management LLC lifted its stake in shares of HeartSciences by 110.7% during the 4th quarter. Geode Capital Management LLC now owns 26,928 shares of the company’s stock valued at $83,000 after buying an additional 14,150 shares in the last quarter. Hedge funds and other institutional investors own 17.24% of the company’s stock.

About HeartSciences

HeartSciences, Inc (NASDAQ: HSCS) is a medical device company focused on the development and commercialization of advanced, non‐invasive cardiac diagnostic technologies. The company’s flagship product, MyoVista, is a high‐fidelity electrocardiograph (ECG) designed to detect subtle changes in cardiac function that may indicate myocardial ischemia or left ventricular dysfunction. By leveraging high‐frequency wavelet analysis within the QRS complex, MyoVista provides clinicians with enhanced visualization and analytical capabilities that extend beyond those of standard ECG systems.

HeartSciences supports the MyoVista system with an integrated software suite that automates data analysis and report generation, facilitating seamless integration into existing clinical workflows.