Key Points
- Director Daniel Goldberger sold 80,000 shares of electroCore stock on April 23 at an average price of $6.80, for total proceeds of $544,000. After the sale, he still held 211,471 shares, reducing his ownership by 27.45%.
- electroCore recently reported quarterly earnings of -$0.59 per share, which matched analyst expectations, while revenue of $9.58 million came in above estimates. The company also posted weak profitability metrics, including a negative net margin and return on equity.
- Analyst sentiment on ECOR is mixed but cautious, with an average rating of “Hold” and a consensus price target of $18.00. Institutional investors own 26.74% of the stock, and several funds recently increased their positions.
electroCore, Inc. (NASDAQ:ECOR - Get Free Report) Director Daniel Goldberger sold 80,000 shares of electroCore stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $6.80, for a total value of $544,000.00. Following the completion of the transaction, the director owned 211,471 shares of the company's stock, valued at approximately $1,438,002.80. This trade represents a 27.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
electroCore Stock Performance
Shares of NASDAQ ECOR opened at $10.25 on Friday. The stock has a market cap of $85.08 million, a PE ratio of -5.79 and a beta of 0.83. electroCore, Inc. has a fifty-two week low of $4.16 and a fifty-two week high of $10.45. The stock has a fifty day moving average of $7.32 and a 200-day moving average of $6.40.
electroCore (NASDAQ:ECOR - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($0.59) earnings per share for the quarter, meeting the consensus estimate of ($0.59). The company had revenue of $9.58 million during the quarter, compared to analysts' expectations of $9.01 million. electroCore had a negative return on equity of 1,956.38% and a negative net margin of 44.08%. On average, sell-side analysts predict that electroCore, Inc. will post -1.48 EPS for the current year.
Institutional Investors Weigh In On electroCore
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Jaffetilchin Investment Partners LLC increased its holdings in electroCore by 7.4% during the 4th quarter. Jaffetilchin Investment Partners LLC now owns 52,363 shares of the company's stock valued at $235,000 after purchasing an additional 3,600 shares during the period. Two Sigma Investments LP increased its holdings in electroCore by 20.8% during the 3rd quarter. Two Sigma Investments LP now owns 24,603 shares of the company's stock valued at $122,000 after purchasing an additional 4,231 shares during the period. International Assets Investment Management LLC increased its holdings in electroCore by 15.2% during 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. FNY Investment Advisers LLC purchased a new position in electroCore during the 4th quarter valued at about $82,000. Finally, Jane Street Group LLC increased its holdings in electroCore by 114.4% during the 1st quarter. Jane Street Group LLC now owns 36,726 shares of the company's stock valued at $246,000 after purchasing an additional 19,599 shares during the period. Institutional investors own 26.74% of the company's stock.
Wall Street Analysts Forecast Growth
ECOR has been the subject of several recent analyst reports. Weiss Ratings restated a "sell (d-)" rating on shares of electroCore in a research report on Friday, March 27th. Zacks Research upgraded electroCore from a "strong sell" rating to a "hold" rating in a research report on Friday, March 27th. One 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. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $18.00.
View Our Latest Research Report on ECOR
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.
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