electroCore (NASDAQ:ECOR) Shares Up 3% – What’s Next?

electroCore, Inc. (NASDAQ:ECOR)’s share price rose 3% during mid-day trading on Tuesday . The company traded as high as $10.29 and last traded at $10.05. 84,895 shares were traded during mid-day trading, an increase of 23% from the average daily volume of 68,756 shares. The stock had previously closed at $9.76.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of electroCore in a research report on Wednesday, June 24th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, electroCore currently has a consensus rating of “Hold” and a consensus price target of $18.00.

electroCore Stock Performance

The business’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 PE ratio of -6.05 and a beta of 1.00.

electroCore (NASDAQ:ECOR) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.33) EPS for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.09. electroCore had a negative return on equity of 1,956.38% and a negative net margin of 39.96%.The company had revenue of $9.45 million during the quarter, compared to analysts’ expectations of $9.49 million. Analysts forecast that electroCore, Inc. will post -1.4 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Joshua S. Lev sold 3,000 shares of the business’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $9.36, for a total value of $28,080.00. Following the sale, the chief financial officer directly owned 84,889 shares in the company, valued at $794,561.04. The trade was a 3.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Thomas Errico bought 5,000 shares of the business’s stock in a transaction dated Thursday, August 13th. The shares were bought at an average cost of $9.85 per share, for a total transaction of $49,250.00. Following the transaction, the director owned 343,332 shares in the company, valued at approximately $3,381,820.20. The trade was a 1.48% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have sold 20,000 shares of company stock valued at $200,120. Insiders own 7.80% of the company’s stock.

Institutional Trading of electroCore

A hedge fund recently bought a new position in electroCore stock. WealthShield Partners LLC bought a new position in shares of electroCore, Inc. (NASDAQ:ECOR) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 25,978 shares of the company’s stock, valued at approximately $157,000. WealthShield Partners LLC owned 0.32% of electroCore as of its most recent filing with the Securities and Exchange Commission (SEC). 26.74% of the stock is owned by institutional investors.

electroCore Company Profile

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.