Market cap of HeartBeam Inc. [BEAT] reaches 19.21M – now what?

HeartBeam Inc. [NASDAQ: BEAT] gained 85.60% or 1.07 points to close at $2.32 with a heavy trading volume of 113646154 shares. The company report on September 15, 2022 that HeartBeam Granted Patent for 12-Lead Electrocardiogram (ECG) Patch Monitor Intended for Detection of Heart Attacks and Complex Cardiac Arrhythmias.

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Patent Opens Pathway to a Disruptive Ischemia and Arrhythmia Detection ECG Patch Product.

HeartBeam, Inc. (NASDAQ: BEAT), a cardiac technology company that has developed the first and only 3D-vector ECG platform for heart attack detection anytime, anywhere, announced today that its patent for a 12-lead electrocardiogram (ECG) patch monitor intended for detection of acute coronary syndrome (ACS) and cardiac arrhythmia was issued by the United States Patent and Trademark Office. The innovation builds on HeartBeam’s growing intellectual property portfolio enabling 12-lead ECG diagnostics outside of a medical setting.

It opened the trading session at $1.97, the shares rose to $2.45 and dropped to $1.90, the range by which the price of stock traded the whole day. The daily chart for BEAT points out that the company has recorded 37.28% gains over the past six months. However, it is still -107.14% lower than its most recent low trading price.

If we look at the average trading volume of 95.52K shares, BEAT reached to a volume of 113646154 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about HeartBeam Inc. [BEAT]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BEAT shares is $10.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BEAT stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

The Average True Range (ATR) for HeartBeam Inc. is set at 0.18 The Price to Book ratio for the last quarter was 2.11, with the Price to Cash per share for the same quarter was set at 1.12.

Trading performance analysis for BEAT stock

HeartBeam Inc. [BEAT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 81.25. With this latest performance, BEAT shares gained by 60.00% in over the last four-week period, additionally plugging by 37.28% over the last 6 months.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BEAT stock in for the last two-week period is set at 81.79, with the RSI for the last a single of trading hit 87.53, and the three-weeks RSI is set at 76.76 for HeartBeam Inc. [BEAT]. The present Moving Average for the last 50 days of trading for this stock 1.4000, while it was recorded at 1.4900 for the last single week of trading, and 1.9200 for the last 200 days.

HeartBeam Inc. [BEAT]: A deeper dive into fundamental analysis

Return on Equity for this stock declined to -102.68, with Return on Assets sitting at -63.04.

HeartBeam Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 12.60 and a Current Ratio set at 12.60.

An analysis of insider ownership at HeartBeam Inc. [BEAT]

There are presently around $1 million, or 12.90% of BEAT stock, in the hands of institutional investors. The top three institutional holders of BEAT stocks are: SABBY MANAGEMENT, LLC with ownership of 195,000, which is approximately -52.795% of the company’s market cap and around 6.40% of the total institutional ownership; VANGUARD GROUP INC, holding 15,570 shares of the stock with an approximate value of $36000.0 in BEAT stocks shares; and TOWER RESEARCH CAPITAL LLC (TRC), currently with $12000.0 in BEAT stock with ownership of nearly 69.165% of the company’s market capitalization.

Positions in HeartBeam Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 4 institutional holders increased their position in HeartBeam Inc. [NASDAQ:BEAT] by around 4,430 shares. Additionally, 4 investors decreased positions by around 306,023 shares, while 1 investors held positions by with 92,287 shares. The mentioned changes placed institutional holdings at 218,166 shares, according to the latest SEC report filing. BEAT stock had 2 new institutional investments in for a total of 2,250 shares, while 3 institutional investors sold positions of 87,934 shares during the same period.


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