Brokers Issue Forecasts for electroCore, Inc.’s Q1 2023 Earnings (NASDAQ:ECOR)

electroCore, Inc. (NASDAQ:ECOR – Get Rating) – Equities research analysts at Brookline Capital Management upped their Q1 2023 earnings estimates for electroCore in a report released on Wednesday, March 8th. Brookline Capital Management analyst K. Dolliver now expects that the company will post earnings per share of ($0.83) for the quarter, up from their previous estimate of ($1.11). Brookline Capital Management has a “Buy” rating on the stock. The consensus estimate for electroCore’s current full-year earnings is ($3.77) per share. Brookline Capital Management also issued estimates for electroCore’s Q2 2023 earnings at ($0.87) EPS, Q3 2023 earnings at ($0.94) EPS, Q4 2023 earnings at ($0.98) EPS and FY2023 earnings at ($3.61) EPS.

Several other research analysts have also commented on the stock. Brookline Capital Acquisition began coverage on shares of electroCore in a report on Friday, January 13th. They issued a “buy” rating on the stock. HC Wainwright restated a “buy” rating on shares of electroCore in a report on Thursday.

electroCore Stock Performance

NASDAQ ECOR opened at $3.76 on Monday. electroCore has a one year low of $2.92 and a one year high of $10.50. The company’s 50 day moving average price is $1.51 and its 200 day moving average price is $8.15. The firm has a market capitalization of $17.82 million, a price-to-earnings ratio of -0.78 and a beta of 1.10.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ECOR. AWM Investment Company Inc. lifted its position in shares of electroCore by 18.0% during the second quarter. AWM Investment Company Inc. now owns 5,493,876 shares of the company’s stock worth $2,801,000 after purchasing an additional 838,129 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in electroCore in the fourth quarter valued at $90,000. Wealthspire Advisors LLC raised its holdings in electroCore by 40.0% in the second quarter. Wealthspire Advisors LLC now owns 700,000 shares of the company’s stock valued at $357,000 after acquiring an additional 200,000 shares in the last quarter. Millennium Management LLC raised its holdings in electroCore by 277.5% in the fourth quarter. Millennium Management LLC now owns 211,812 shares of the company’s stock valued at $54,000 after acquiring an additional 155,703 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in electroCore by 102.2% in the second quarter. Renaissance Technologies LLC now owns 262,848 shares of the company’s stock valued at $134,000 after acquiring an additional 132,848 shares in the last quarter. 17.76% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at electroCore

In other news, Director Joseph P. Errico bought 100,000 shares of electroCore stock in a transaction dated Tuesday, December 13th. The shares were acquired at an average cost of $0.33 per share, with a total value of $33,000.00. Following the completion of the transaction, the director now owns 2,724,841 shares in the company, valued at approximately $899,197.53. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 13.11% of the company’s stock.

About electroCore

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electroCore, Inc engages in the provision of non-invasive vagus nerve stimulation (nVNS) therapy. It develops a platform bioelectronic medical therapy that modulates neurotransmitters and immune function through its effects on both the peripheral and central nervous systems. The company was founded by Joseph P.