electroCore (NASDAQ:ECOR) Trading 3% Higher – What’s Next?
by Kim Johansen · The Markets DailyelectroCore, Inc. (NASDAQ:ECOR – Get Free Report)’s stock price was up 3% during trading on Tuesday . The stock traded as high as $10.29 and last traded at $10.05. 84,895 shares changed hands during mid-day trading, an increase of 23% from the average session volume of 68,756 shares. The stock had previously closed at $9.76.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of electroCore in a research note on Wednesday, June 24th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $18.00.
Read Our Latest Stock Analysis on ECOR
electroCore Trading Up 3.0%
The stock’s fifty day moving average price is $8.13 and its 200 day moving average price is $7.61. The stock has a market cap of $90.65 million, a P/E ratio of -6.05 and a beta of 1.00.
electroCore (NASDAQ:ECOR – Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.42) by $0.09. electroCore had a negative net margin of 39.96% and a negative return on equity of 1,956.38%. The company had revenue of $9.45 million during the quarter, compared to analyst estimates of $9.49 million. As a group, sell-side analysts forecast that electroCore, Inc. will post -1.4 earnings per share for the current year.
Insider Buying and Selling
In related news, Director Thomas Errico purchased 5,000 shares of the company’s stock in a transaction dated Thursday, August 13th. The shares were purchased at an average cost of $9.85 per share, with a total value of $49,250.00. Following the transaction, the director directly owned 343,332 shares in the company, valued at $3,381,820.20. This trade represents a 1.48% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Joshua S. Lev sold 12,000 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $10.22, for a total value of $122,640.00. Following the completion of the sale, the chief financial officer directly owned 84,889 shares in the company, valued at approximately $867,565.58. This represents a 12.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 20,000 shares of company stock valued at $200,120 in the last ninety days. Insiders own 7.80% of the company’s stock.
Institutional Inflows and Outflows
A hedge fund recently bought a new stake in electroCore stock. WealthShield Partners LLC acquired a new stake in shares of electroCore, Inc. (NASDAQ:ECOR – Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 25,978 shares of the company’s stock, valued at approximately $157,000. WealthShield Partners LLC owned about 0.32% of electroCore at the end of the most recent quarter. 26.74% of the stock is owned by hedge funds and other institutional investors.
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.