Key Points
- Director Thomas Errico bought 9,992 shares of electroCore on May 21 at an average price of $5.99, a transaction worth about $59,852. After the purchase, he owned 360,071 shares, increasing his position by 2.85%.
- electroCore shares jumped 33.6% and opened at $8.91, near their 12-month high of $9.23. The company now has a market cap of about $73.9 million.
- The company recently reported quarterly EPS of ($0.59), in line with estimates, while revenue of $9.58 million came in above expectations. Analysts currently have a consensus Hold rating with a $18.00 price target.
electroCore, Inc. (NASDAQ:ECOR - Get Free Report) Director Thomas Errico purchased 9,992 shares of the business's stock in a transaction dated Thursday, May 21st. The stock was bought at an average price of $5.99 per share, for a total transaction of $59,852.08. Following the completion of the acquisition, the director directly owned 360,071 shares in the company, valued at approximately $2,156,825.29. This trade represents a 2.85% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
electroCore Trading Up 33.6%
Shares of NASDAQ:ECOR opened at $8.91 on Wednesday. electroCore, Inc. has a 12-month low of $4.16 and a 12-month high of $9.23. The business's fifty day simple moving average is $6.43 and its 200-day simple moving average is $6.02. The company has a market capitalization of $73.92 million, a PE ratio of -5.03 and a beta of 0.68.
electroCore (NASDAQ:ECOR - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($0.59) earnings per share (EPS) 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. Research analysts predict that electroCore, Inc. will post -1.48 EPS for the current year.
Wall Street Analyst Weigh In
ECOR has been the topic of a number of analyst reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of electroCore in a report on Friday, March 27th. Zacks Research upgraded electroCore from a "strong sell" rating to a "hold" rating in a report on Friday, March 27th. Finally, upgraded electroCore to a "strong-buy" rating in a report on Tuesday, February 3rd. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, electroCore has an average rating of "Hold" and a consensus price target of $18.00.
Get Our Latest Report on electroCore
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. FNY Investment Advisers LLC purchased a new position in electroCore during the 4th quarter worth $82,000. Two Sigma Investments LP grew its stake in electroCore by 20.8% during the 3rd quarter. Two Sigma Investments LP now owns 24,603 shares of the company's stock worth $122,000 after buying an additional 4,231 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of electroCore during the first quarter worth $153,000. WealthShield Partners LLC purchased a new stake in shares of electroCore during the first quarter valued at $157,000. Finally, Jaffetilchin Investment Partners LLC grew its holdings in shares of electroCore by 7.4% during the fourth quarter. Jaffetilchin Investment Partners LLC now owns 52,363 shares of the company's stock valued at $235,000 after buying an additional 3,600 shares during the last quarter. 26.74% of the stock is currently owned by hedge funds and other institutional investors.
electroCore Company Profile
(
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.
Further Reading
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