electroCore (NASDAQ:ECOR) Rating Lowered to Sell at Wall Street Zen

electroCore (NASDAQ:ECOR) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday.

electroCore Stock Performance

NASDAQ:ECOR opened at $4.62 on Friday. The stock’s 50 day moving average price is $6.17 and its 200 day moving average price is $8.67. electroCore has a 52 week low of $4.47 and a 52 week high of $19.49. The company has a market capitalization of $34.51 million, a P/E ratio of -2.85 and a beta of 0.27.

electroCore (NASDAQ:ECOR) last released its quarterly earnings data on Wednesday, August 6th. The company reported ($0.35) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.03). electroCore had a negative return on equity of 221.93% and a negative net margin of 47.84%. The firm had revenue of $7.38 million during the quarter, compared to analyst estimates of $7.24 million. As a group, sell-side analysts forecast that electroCore will post -1.49 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Thomas J. Errico acquired 10,000 shares of the company’s stock in a transaction that occurred on Monday, May 12th. The shares were purchased at an average price of $4.77 per share, for a total transaction of $47,700.00. Following the completion of the acquisition, the director owned 266,401 shares of the company’s stock, valued at approximately $1,270,732.77. This represents a 3.90% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 13.80% of the company’s stock.

Hedge Funds Weigh In On electroCore

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its holdings in electroCore by 31,250.0% during the fourth quarter. JPMorgan Chase & Co. now owns 3,762 shares of the company’s stock valued at $61,000 after purchasing an additional 3,750 shares during the last quarter. XTX Topco Ltd acquired a new position in electroCore during the first quarter valued at approximately $90,000. Jump Financial LLC acquired a new position in electroCore during the first quarter valued at approximately $95,000. NewEdge Advisors LLC acquired a new position in electroCore during the fourth quarter valued at approximately $274,000. Finally, Jane Street Group LLC acquired a new position in electroCore during the fourth quarter valued at approximately $278,000. Institutional investors and hedge funds own 26.74% of the company’s stock.

electroCore Company Profile

electroCore, Inc, a commercial stage bioelectronic medicine and wellness company, provides non-invasive vagus nerve stimulation technology platform in the United States, the United Kingdom, and internationally. The company is developing gammaCore, a prescription only handheld device intended for regular or intermittent use for the acute treatment of pain associated with migraine and episodic cluster headache, as well as for the treatment of hemicrania continua and paroxysmal hemicrania.