Daniel Goldberger Sells 80,000 Shares of electroCore (NASDAQ:ECOR) Stock

electroCore, Inc. (NASDAQ:ECOR) Director Daniel Goldberger sold 80,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $6.80, for a total value of $544,000.00. Following the completion of the sale, the director directly owned 211,471 shares in the company, valued at approximately $1,438,002.80. The trade was a 27.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

electroCore Price Performance

NASDAQ ECOR opened at $10.25 on Friday. The company has a market cap of $85.08 million, a PE ratio of -5.79 and a beta of 0.83. The stock’s 50 day simple moving average is $7.32 and its 200-day simple moving average is $6.40. electroCore, Inc. has a 1-year low of $4.16 and a 1-year high of $10.45.

electroCore (NASDAQ:ECOR) last released its earnings results on Wednesday, May 6th. The company reported ($0.59) earnings per share for the quarter, meeting the consensus estimate of ($0.59). electroCore had a negative return on equity of 1,956.38% and a negative net margin of 44.08%.The business had revenue of $9.58 million for the quarter, compared to the consensus estimate of $9.01 million. On average, equities research analysts anticipate that electroCore, Inc. will post -1.48 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ECOR. NewEdge Advisors LLC grew its stake in electroCore by 857.9% in the first quarter. NewEdge Advisors LLC now owns 161,955 shares of the company’s stock worth $1,083,000 after purchasing an additional 145,047 shares in the last quarter. Tejara Capital Ltd acquired a new position in electroCore in the fourth quarter valued at approximately $450,000. DRW Securities LLC acquired a new position in shares of electroCore during the fourth quarter worth approximately $264,000. WealthShield Partners LLC acquired a new position in shares of electroCore during the first quarter worth approximately $157,000. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of electroCore during the first quarter worth approximately $153,000. 26.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Zacks Research raised electroCore from a “strong sell” rating to a “hold” rating in a research report on Friday, March 27th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of electroCore in a research note on Friday, March 27th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $18.00.

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.