electroCore (NASDAQ:ECOR) Shares Gap Up to $0.83

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electroCore, Inc. (NASDAQ:ECOR)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $0.81, but opened at $0.83. electroCore shares last traded at $0.84, with a volume of 15,345 shares changing hands.

Several research analysts have commented on ECOR shares. HC Wainwright restated a “buy” rating and issued a $1.50 price objective on shares of electroCore in a report on Friday, May 15th. Cantor Fitzgerald decreased their price objective on shares of electroCore from $4.00 to $2.00 and set a “neutral” rating for the company in a report on Tuesday, March 24th. Noble Financial restated a “buy” rating and issued a $4.00 price objective on shares of electroCore in a report on Tuesday, May 19th. BTIG Research restated a “hold” rating on shares of electroCore in a report on Thursday, May 14th. Finally, Zacks Investment Research lowered shares of electroCore from a “buy” rating to a “hold” rating in a report on Friday, May 22nd. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $4.58.

The company has a debt-to-equity ratio of 0.07, a current ratio of 2.37 and a quick ratio of 2.28. The company’s 50 day moving average is $0.98 and its 200-day moving average is $1.04.

electroCore (NASDAQ:ECOR) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by ($0.04). The business had revenue of $0.73 million during the quarter, compared to the consensus estimate of $0.73 million. electroCore had a negative return on equity of 133.55% and a negative net margin of 1,445.53%. On average, analysts anticipate that electroCore, Inc. will post -0.63 earnings per share for the current year.

In related news, Director Thomas J. Errico purchased 176,470 shares of the company’s stock in a transaction dated Tuesday, April 14th. The shares were purchased at an average price of $0.85 per share, with a total value of $149,999.50. Following the acquisition, the director now directly owns 172,504 shares in the company, valued at approximately $146,628.40. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 43.78% of the company’s stock.

Several large investors have recently modified their holdings of the company. Russell Investments Group Ltd. bought a new position in shares of electroCore in the 1st quarter worth approximately $253,000. State Street Corp raised its stake in electroCore by 23.7% during the 1st quarter. State Street Corp now owns 262,144 shares of the company’s stock worth $249,000 after acquiring an additional 50,295 shares during the period. Budros Ruhlin & Roe Inc. bought a new stake in electroCore during the 1st quarter worth approximately $190,000. Geode Capital Management LLC raised its stake in electroCore by 27.7% during the 4th quarter. Geode Capital Management LLC now owns 161,578 shares of the company’s stock worth $256,000 after acquiring an additional 35,001 shares during the period. Finally, Wells Fargo & Company MN raised its stake in electroCore by 134.4% during the 1st quarter. Wells Fargo & Company MN now owns 100,712 shares of the company’s stock worth $96,000 after acquiring an additional 57,748 shares during the period. Hedge funds and other institutional investors own 10.10% of the company’s stock.

About electroCore (NASDAQ:ECOR)

electroCore, Inc, a bioelectronic medicine company, engages in developing a range of patient-administered non-invasive vagus nerve (VNS) stimulation therapies for the treatment of various conditions in neurology, rheumatology, and other fields. The company is developing gammaCore, a prescription-only non-invasive VNS therapy for the acute treatment of pain associated with migraine and episodic cluster headache in adults.

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