Are HeartSciences Inc. (NASDAQ: HSCS) Shares Ready For A Higher Price Run?

In the last trading session, 1.56 million shares of the HeartSciences Inc. (NASDAQ:HSCS) were traded, and its beta was 3.44. Most recently the company’s share price was $0.10, and it changed around -$0.01 or -6.09% from the last close, which brings the market valuation of the company to $6.87M. HSCS currently trades at a discount to its 52-week high of $1.49, offering almost -1390.0% off that amount. The share price’s 52-week low was $0.11, which indicates that the current value has fallen by an impressive -10.0% since then. We note from HeartSciences Inc.’s average daily trading volume that its 10-day average is 1.04 million shares, with the 3-month average coming to 2.83 million.

HeartSciences Inc. (NASDAQ:HSCS) trade information

Instantly HSCS has showed a red trend with a performance of -6.09% at the end of last trading. The performance over the last five days has remained in the red territory. The company’s shares are currently down -38.71% year-to-date, but still down -12.67% over the last five days. On the other hand, HeartSciences Inc. (NASDAQ:HSCS) is -13.67% down in the 30-day period. We can see from the shorts that 0.51 million shares have been sold at a short interest cover period of 0.26 day(s).

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The consensus price target as assigned by Wall Street analysts is $3, which translates to bulls needing to increase their stock price by 96.67% from its current value. Analyst projections state that HSCS is forecast to be at a low of $3 and a high of $3.

HeartSciences Inc. (HSCS) estimates and forecasts

Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 85.70% in revenue this quarter, and will report an increase of 76.90% in the next quarter. The year-over-year growth rate is expected to be 1,100.00%, up from the previous year.

Consensus estimates provided by 2 financial analysts predict the company will bring in an average of $50k in revenue for the current quarter. 2 analysts expect HeartSciences Inc. to make $200k in revenue for the quarter ending Jul 2024.

HSCS Dividends

HeartSciences Inc.’s next quarterly earnings report is expected to be released in May.

HeartSciences Inc. (NASDAQ:HSCS)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 16.01% of HeartSciences Inc. shares, and 1.84% of them are in the hands of institutional investors. The stock currently has a share float of 2.19%. HeartSciences Inc. stock is held by 19 institutions, with Tradition Wealth Management, LLC being the largest institutional investor. By Jun 29, 2023, it held 1.36% of the shares, which is about 0.15 million shares worth $0.13 million.

Oliver Lagore Vanvalin Investment Group, with 1.03% or 0.11 million shares worth $0.1 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.