Key Points
- Director Thomas Errico bought 5,000 electroCore shares at an average price of $9.82, investing $49,100 and increasing his ownership by 1.39% to 363,904 shares.
- electroCore reported quarterly revenue of $9.45 million and an adjusted loss of $0.33 per share, beating analysts’ loss estimate of $0.42 but continuing to post negative margins and profitability.
- The stock opened at $12.29, near its 52-week high, while analysts maintained a consensus “Hold” rating with an average price target of $18.00; institutional investors own 26.74% of the company.
electroCore, Inc. (NASDAQ:ECOR - Get Free Report) Director Thomas Errico purchased 5,000 shares of the business's stock in a transaction on Monday, September 14th. The shares were bought at an average price of $9.82 per share, for a total transaction of $49,100.00. Following the acquisition, the director owned 363,904 shares in the company, valued at $3,573,537.28. This trade represents a 1.39% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
electroCore Stock Performance
Shares of electroCore stock opened at $12.29 on Wednesday. electroCore, Inc. has a one year low of $4.41 and a one year high of $12.70. The company has a market cap of $110.86 million, a PE ratio of -7.40 and a beta of 1.00. The business has a 50-day simple moving average of $8.64 and a 200-day simple moving average of $7.74.
electroCore (NASDAQ:ECOR - Get Free Report) last issued 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 net margin of 39.96% and a negative return on equity of 1,956.38%. The firm had revenue of $9.45 million for the quarter, compared to analysts' expectations of $9.49 million. On average, sell-side analysts predict that electroCore, Inc. will post -1.4 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
An institutional investor recently bought a new stake in electroCore stock. WealthShield Partners LLC bought a new stake in electroCore, Inc. (NASDAQ:ECOR - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The firm bought 25,978 shares of the company's stock, valued at approximately $157,000. WealthShield Partners LLC owned about 0.32% of electroCore at the end of the most recent reporting period. Institutional investors and hedge funds own 26.74% of the company's stock.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings restated a "sell (d-)" rating on shares of electroCore in a research note on Wednesday, June 24th. One 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 company. Based on data from MarketBeat.com, electroCore currently has a consensus rating of "Hold" and an average price target of $18.00.
Read Our Latest Stock Report on ECOR
About electroCore
(
Get Free Report)
electroCore, Inc is a commercial-stage medical device company focused on bioelectronic medicine, an approach that uses electrical signals to influence nerve activity and help manage health conditions. The company develops non-invasive vagus nerve stimulation (nVNS) technologies designed to be used without surgery or implanted devices.
Its primary prescription product is gammaCore, a handheld device that delivers non-invasive vagus nerve stimulation and has been cleared in the United States for the treatment and prevention of certain migraine and cluster headache symptoms.
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