electroCore (NASDAQ:ECOR) Shares Down 2.1% – Here’s Why
by Sarita Garza · The Markets DailyelectroCore, Inc. (NASDAQ:ECOR – Get Free Report) was down 2.1% on Friday . The stock traded as low as $6.91 and last traded at $7.58. Approximately 55,013 shares were traded during mid-day trading, an increase of 22% from the average daily volume of 45,247 shares. The stock had previously closed at $7.74.
Analyst Ratings Changes
Several equities analysts have commented on ECOR shares. Zacks Research cut electroCore from a “hold” rating to a “strong sell” rating in a report on Wednesday, January 28th. HC Wainwright lowered their price objective on electroCore from $25.00 to $18.00 and set a “buy” rating on the stock in a research report on Monday, January 26th. Weiss Ratings restated a “sell (d-)” rating on shares of electroCore in a research note on Monday, December 29th. Brookline Capital Acquisition upgraded shares of electroCore to a “strong-buy” rating in a research note on Tuesday, February 3rd. Finally, Wall Street Zen raised shares of electroCore from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $22.00.
Read Our Latest Stock Report on electroCore
electroCore Trading Down 2.1%
The company has a 50 day moving average of $6.02 and a 200 day moving average of $5.39. The firm has a market cap of $60.64 million, a price-to-earnings ratio of -4.43 and a beta of 0.48.
Institutional Investors Weigh In On electroCore
A number of hedge funds have recently made changes to their positions in the company. Jaffetilchin Investment Partners LLC lifted its holdings in electroCore by 7.4% during the 4th quarter. Jaffetilchin Investment Partners LLC now owns 52,363 shares of the company’s stock valued at $235,000 after purchasing an additional 3,600 shares during the last quarter. Two Sigma Investments LP increased its holdings in shares of electroCore by 20.8% during the third quarter. Two Sigma Investments LP now owns 24,603 shares of the company’s stock worth $122,000 after buying an additional 4,231 shares in the last quarter. International Assets Investment Management LLC raised its stake in shares of electroCore by 15.2% in the fourth quarter. International Assets Investment Management LLC now owns 88,720 shares of the company’s stock valued at $398,000 after acquiring an additional 11,700 shares during the last quarter. FNY Investment Advisers LLC bought a new position in shares of electroCore in the fourth quarter valued at approximately $82,000. Finally, Jane Street Group LLC boosted its holdings in shares of electroCore by 114.4% in the 1st quarter. Jane Street Group LLC now owns 36,726 shares of the company’s stock worth $246,000 after acquiring an additional 19,599 shares in the last quarter. Institutional investors and hedge funds own 26.74% of the company’s stock.
About electroCore
electroCore, Inc is a commercial-stage bioelectronic medicine company headquartered in Rockaway, New Jersey. The company specializes in the development and commercialization of non-invasive vagus nerve stimulation (nVNS) therapies designed to address a variety of neurological and inflammatory conditions. Established in 2006, electroCore has focused its efforts on translating neuromodulation science into a compact, patient-administered treatment device.
The company’s lead product, gammaCore®, is a handheld, battery-powered device that delivers nVNS through the skin to the cervical branch of the vagus nerve.