electroCore, Inc. (NASDAQ:ECOR) Short Interest Up 34.5% in January

electroCore, Inc. (NASDAQ:ECOR) was the recipient of a significant growth in short interest during the month of January. As of January 31st, there was short interest totalling 118,600 shares, a growth of 34.5% from the January 15th total of 88,200 shares. Currently, 2.3% of the company’s shares are short sold. Based on an average trading volume of 121,900 shares, the days-to-cover ratio is presently 1.0 days.

Analysts Set New Price Targets

Separately, HC Wainwright boosted their price objective on electroCore from $22.00 to $25.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th.

electroCore Stock Performance

Shares of NASDAQ ECOR traded up $0.24 during midday trading on Friday, hitting $17.41. 53,710 shares of the company’s stock were exchanged, compared to its average volume of 88,829. electroCore has a twelve month low of $5.32 and a twelve month high of $18.67. The stock’s 50 day moving average price is $15.98 and its 200-day moving average price is $11.04.

Institutional Investors Weigh In On electroCore

A number of institutional investors have recently added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its position in shares of electroCore by 689.1% during the 3rd quarter. International Assets Investment Management LLC now owns 535,146 shares of the company’s stock valued at $3,864,000 after acquiring an additional 467,326 shares during the last quarter. HighTower Advisors LLC bought a new stake in electroCore in the third quarter worth $255,000. Geode Capital Management LLC boosted its holdings in electroCore by 10.3% during the third quarter. Geode Capital Management LLC now owns 63,485 shares of the company’s stock valued at $458,000 after acquiring an additional 5,951 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of electroCore by 31,250.0% in the fourth quarter. JPMorgan Chase & Co. now owns 3,762 shares of the company’s stock valued at $61,000 after buying an additional 3,750 shares during the period. Finally, DnB Asset Management AS bought a new stake in shares of electroCore in the fourth quarter valued at about $180,000. 26.74% of the stock is currently owned by institutional investors and hedge funds.

electroCore Company Profile

electroCore, Inc, a commercial stage bioelectronic medicine and wellness company, provides non-invasive vagus nerve stimulation technology platform in the United States, the United Kingdom, and internationally. The company is developing gammaCore, a prescription only handheld device intended for regular or intermittent use for the acute treatment of pain associated with migraine and episodic cluster headache, as well as for the treatment of hemicrania continua and paroxysmal hemicrania.