electroCore, Inc. (NASDAQ:ECOR - Get Free Report) CFO Joshua Lev sold 3,000 shares of the firm's stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $9.36, for a total value of $28,080.00. Following the completion of the transaction, the chief financial officer owned 84,889 shares in the company, valued at $794,561.04. This represents a 3.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
electroCore Stock Down 1.9%
Shares of electroCore stock opened at $9.47 on Wednesday. electroCore, Inc. has a 12 month low of $4.41 and a 12 month high of $10.95. The business has a fifty day simple moving average of $7.75 and a 200 day simple moving average of $7.23. The stock has a market cap of $85.42 million, a PE ratio of -5.70 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 the consensus estimate of ($0.42) by $0.09. electroCore had a negative return on equity of 1,956.38% and a negative net margin of 39.96%.The firm had revenue of $9.45 million for the quarter, compared to analyst estimates of $9.49 million. Analysts expect that electroCore, Inc. will post -1.4 EPS for the current fiscal year.
Key Stories Impacting electroCore
Here are the key news stories impacting electroCore this week:
- Positive Sentiment: electroCore’s Truvaga® wellness device was named the Best Luxury Biohacking & Longevity Brand in the USA by Luxury Lifestyle Awards. The recognition could support consumer awareness and the company’s efforts to expand beyond its prescription-focused nVNS products. electroCore's Truvaga Named Best Luxury Biohacking & Longevity Brand in the USA by Luxury Lifestyle Awards
- Neutral Sentiment: Reported short interest was zero shares as of August 25, so there is no indication that a buildup of short positions is driving the stock’s movement. Institutional investors own approximately 26.74% of the company, with several funds recently initiating or increasing positions.
- Negative Sentiment: The CFO’s sales represent the clearest near-term negative catalyst. Lev sold 12,000 shares at an average $10.22, 3,000 shares at $9.36, and 5,000 shares at $9.88. The repeated selling occurred near the stock’s recent highs and could weigh on sentiment. Joshua Lev Sells Shares of electroCore Stock
- Negative Sentiment: electroCore remains unprofitable, with analysts expecting approximately negative $1.40 in full-year EPS. Its latest quarterly loss was $0.33 per share, despite beating estimates, while revenue of $9.45 million was slightly below expectations. A “Hold” consensus and a reiterated “Sell” rating add to the cautious backdrop.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings reiterated a "sell (d-)" rating on shares of electroCore in a research report on Wednesday, June 24th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, electroCore presently has an average rating of "Hold" and a consensus price target of $18.00.
Read Our Latest Stock Analysis on electroCore
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Two Sigma Investments LP raised its position 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 worth $122,000 after purchasing an additional 4,231 shares during the period. Cubist Systematic Strategies LLC acquired a new position in shares of electroCore in the 1st quarter valued at approximately $153,000. WealthShield Partners LLC acquired a new position in shares of electroCore in the 1st quarter valued at approximately $157,000. Jane Street Group LLC increased its stake in electroCore by 114.4% during the 1st quarter. Jane Street Group LLC now owns 36,726 shares of the company's stock worth $246,000 after purchasing an additional 19,599 shares in the last quarter. Finally, DRW Securities LLC bought a new stake in electroCore during the 4th quarter worth approximately $264,000. 26.74% of the stock is currently owned by institutional investors.
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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