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In a year marked by volatility and economic headwinds, Heartbeam, Inc. (BEAT) has seen its shares tumble to $1.64, near its 52-week low of $1.70. InvestingPro analysis reveals the company is quickly burning through cash, with negative EBITDA of $19.88M and a market capitalization of just $61.72M. This latest dip represents a significant contraction from previous valuations, with the stock down 20.43% year-to-date. Investors have been cautious as the broader market grapples with a range of issues from rising interest rates to geopolitical uncertainties, which have in turn affected companies like Heartbeam. The medical technology firm, known for its innovative cardiac diagnostic solutions, has faced a tough market environment, reflecting the broader challenges in the healthcare sector. Despite the current lows, shareholders and potential investors are closely monitoring the company’s performance for signs of a rebound. InvestingPro subscribers can access additional insights through the comprehensive Pro Research Report, which includes detailed analysis of the company’s financial health and future prospects.
In other recent news, HeartBEAM Inc. reported its Q4 2024 earnings, which fell short of expectations, with an EPS of -$0.73 compared to the forecasted -$0.17. Despite the earnings miss, Benchmark analysts maintained their Speculative Buy rating and $8.00 price target for the company, highlighting HeartBEAM’s progress towards its commercial launch. The company received significant attention following the FDA’s 510(k) clearance for its at-home heart monitoring technology, which is a portable and cable-free device capable of capturing heart signals in three dimensions. HeartBEAM is preparing for a subsequent FDA clearance anticipated in the second half of the year, which would enable its 12-lead ECG synthesis software. Financially, HeartBEAM completed an $11.5 million public offering in February 2025, bringing its pro forma cash balance to approximately $12.6 million, which is expected to cover most of its cash needs for the year. The company’s strategic focus remains on advancing its ECG technology and preparing for pilot commercialization in select geographic markets. Analysts noted the potential of HeartBEAM’s technology to address a total addressable market of $21 billion. Looking ahead, HeartBEAM is optimistic about receiving further FDA clearances and is exploring partnerships to enhance its market entry strategy.
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