electroCore, Inc. (NASDAQ:ECOR - Get Free Report) Director Thomas Errico bought 5,000 shares of electroCore stock in a transaction that occurred on Thursday, August 13th. The shares were acquired at an average cost of $9.85 per share, for a total transaction of $49,250.00. Following the acquisition, the director owned 343,332 shares in the company, valued at $3,381,820.20. The trade was a 1.48% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink.
electroCore Stock Up 2.8%
NASDAQ ECOR opened at $10.25 on Tuesday. The company has a 50-day simple moving average of $7.69 and a two-hundred day simple moving average of $7.08. electroCore, Inc. has a 12-month low of $4.41 and a 12-month high of $10.68. The firm has a market cap of $92.41 million, a price-to-earnings ratio of -6.17 and a beta of 0.92.
electroCore (NASDAQ:ECOR - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported ($0.33) earnings per share for the quarter, beating analysts' consensus estimates of ($0.42) by $0.09. The company had revenue of $9.45 million during the quarter, compared to analyst estimates of $9.49 million. electroCore had a negative return on equity of 1,956.38% and a negative net margin of 39.96%. Equities analysts expect that electroCore, Inc. will post -1.4 earnings per share for the current fiscal year.
Hedge Funds Weigh In On electroCore
A number of institutional investors have recently bought and sold shares of the stock. Cubist Systematic Strategies LLC bought a new position in shares of electroCore in the 1st quarter worth approximately $153,000. NewEdge Advisors LLC boosted its stake in electroCore by 857.9% during the first quarter. NewEdge Advisors LLC now owns 161,955 shares of the company's stock worth $1,083,000 after acquiring an additional 145,047 shares in the last quarter. Jane Street Group LLC boosted its stake in electroCore by 114.4% during the first quarter. Jane Street Group LLC now owns 36,726 shares of the company's stock worth $246,000 after acquiring an additional 19,599 shares in the last quarter. Two Sigma Investments LP grew its holdings in electroCore by 20.8% in the third quarter. Two Sigma Investments LP now owns 24,603 shares of the company's stock worth $122,000 after purchasing an additional 4,231 shares during the period. Finally, International Assets Investment Management LLC grew its holdings in electroCore by 15.2% in the fourth quarter. International Assets Investment Management LLC now owns 88,720 shares of the company's stock worth $398,000 after purchasing an additional 11,700 shares during the period. 26.74% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings restated a "sell (d-)" rating on shares of electroCore in a report on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $18.00.
Get Our Latest Stock Analysis on electroCore
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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