Key Points
- electroCore CFO Joshua Lev sold 3,000 shares on May 22 at an average price of $6.50, totaling $19,500. The sale reduced his stake by 3.17% and was disclosed in an SEC filing, with proceeds used to cover tax withholding from vesting equity awards.
- ECOR shares were up 11.4% on Friday, opening at $6.67. The stock remains well below its 52-week high of $8.64, with a market cap of $55.36 million.
- Analyst sentiment is mixed but leans neutral, with one Buy, one Hold, and one Sell rating reflected in a consensus Hold and a $18.00 price target. The company recently met earnings expectations, reporting a quarterly loss of $0.59 per share on revenue of $9.58 million.
electroCore, Inc. (NASDAQ:ECOR - Get Free Report) CFO Joshua Lev sold 3,000 shares of the stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $6.50, for a total value of $19,500.00. Following the completion of the sale, the chief financial officer owned 91,556 shares in the company, valued at $595,114. This trade represents a 3.17% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
electroCore Stock Up 11.4%
ECOR opened at $6.67 on Friday. The business's fifty day simple moving average is $6.37 and its 200 day simple moving average is $5.97. electroCore, Inc. has a 52 week low of $4.16 and a 52 week high of $8.64. The stock has a market cap of $55.36 million, a PE ratio of -3.77 and a beta of 0.68.
electroCore (NASDAQ:ECOR - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($0.59) earnings per share for the quarter, meeting analysts' consensus estimates 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. As a group, equities analysts anticipate that electroCore, Inc. will post -1.48 earnings per share for the current year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the stock. FNY Investment Advisers LLC bought a new position in shares of electroCore during the fourth quarter valued at about $82,000. Cubist Systematic Strategies LLC bought a new position in shares of electroCore during the first quarter valued at about $153,000. Two Sigma Investments LP grew its stake in shares of electroCore by 20.8% during the third quarter. Two Sigma Investments LP now owns 24,603 shares of the company's stock valued at $122,000 after buying an additional 4,231 shares during the last quarter. WealthShield Partners LLC bought a new position in shares of electroCore during the first quarter valued at about $157,000. Finally, Jane Street Group LLC grew its stake in shares of electroCore by 114.4% during the first quarter. Jane Street Group LLC now owns 36,726 shares of the company's stock valued at $246,000 after buying an additional 19,599 shares during the last quarter. 26.74% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on the company. HC Wainwright lowered their price target on electroCore from $25.00 to $18.00 and set a "buy" rating on the stock in a research report on Monday, January 26th. Weiss Ratings restated a "sell (d-)" rating on shares of electroCore in a research report on Friday, March 27th. upgraded electroCore to a "strong-buy" rating in a research report on Tuesday, February 3rd. Finally, Zacks Research upgraded electroCore from a "strong sell" rating to a "hold" rating in a research report on Friday, March 27th. One research 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. Based on data from MarketBeat, electroCore currently has an average rating of "Hold" and a consensus price target of $18.00.
Get Our Latest Report on ECOR
About electroCore
(
Get Free Report)
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.
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