Key Points
- CFO Joshua Lev sold 6,667 shares of electroCore at an average price of $9.00, reducing his stake by 7.28% and generating about $60,003 in proceeds.
- electroCore shares were up 5.6% and opened at $9.76, near the stock’s 12-month high of $10.27 and above its 50-day and 200-day moving averages.
- The company recently reported Q1 earnings in line with estimates at -$0.59 per share, while revenue came in above expectations at $9.58 million; analysts currently rate the stock a consensus Hold with an average target price of $18.00.
electroCore, Inc. (NASDAQ:ECOR - Get Free Report) CFO Joshua Lev sold 6,667 shares of the stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $9.00, for a total transaction of $60,003.00. Following the transaction, the chief financial officer owned 84,889 shares in the company, valued at approximately $764,001. This trade represents a 7.28% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
electroCore Stock Up 5.6%
Shares of ECOR opened at $9.76 on Friday. The company's fifty day moving average is $6.60 and its 200-day moving average is $6.10. electroCore, Inc. has a 12 month low of $4.16 and a 12 month high of $10.27. The firm has a market cap of $80.97 million, a price-to-earnings ratio of -5.51 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) EPS for the quarter, hitting the consensus estimate of ($0.59). electroCore had a negative net margin of 44.08% and a negative return on equity of 1,956.38%. The company had revenue of $9.58 million for the quarter, compared to analyst estimates of $9.01 million. As a group, research analysts predict that electroCore, Inc. will post -1.48 earnings per share for the current fiscal year.
Institutional Trading of electroCore
A number of hedge funds have recently bought and sold shares of the stock. WealthShield Partners LLC bought a new stake in electroCore in the 1st quarter valued at $157,000. DRW Securities LLC bought a new stake in electroCore in the 4th quarter valued at $264,000. Tejara Capital Ltd bought a new stake in electroCore in the 4th quarter valued at $450,000. International Assets Investment Management LLC boosted its holdings in electroCore by 15.2% in the 4th quarter. International Assets Investment Management LLC now owns 88,720 shares of the company's stock valued at $398,000 after purchasing an additional 11,700 shares during the period. Finally, FNY Investment Advisers LLC bought a new stake in electroCore in the 4th quarter valued at $82,000. 26.74% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of electroCore in a research note on Friday, March 27th. upgraded shares of electroCore to a "strong-buy" rating in a research note on Tuesday, February 3rd. Finally, Zacks Research upgraded shares of electroCore from a "strong sell" rating to a "hold" rating 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 assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $18.00.
Read Our Latest Stock Analysis on electroCore
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.
Further Reading
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