electroCore (NASDAQ:ECOR) Shares Down 0.6% – Here’s Why

electroCore, Inc. (NASDAQ:ECOR)’s stock price fell 0.6% during mid-day trading on Monday . The company traded as low as $4.76 and last traded at $4.90. 31,380 shares were traded during trading, a decline of 33% from the average session volume of 46,540 shares. The stock had previously closed at $4.93.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered electroCore from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, electroCore presently has a consensus rating of “Buy” and a consensus price target of $25.50.

electroCore Trading Down 0.6%

The company’s 50-day moving average is $5.55 and its 200-day moving average is $5.90. The firm has a market cap of $37.14 million, a price-to-earnings ratio of -3.02 and a beta of 0.36.

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

Insider Buying and Selling at electroCore

In other electroCore news, Director Thomas J. Errico acquired 15,000 shares of the company’s stock in a transaction that occurred on Monday, August 11th. The stock was acquired at an average cost of $4.47 per share, for a total transaction of $67,050.00. Following the transaction, the director directly owned 281,401 shares in the company, valued at $1,257,862.47. This represents a 5.63% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 13.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Jaffetilchin Investment Partners LLC lifted its stake in shares of electroCore by 25.5% in the 1st quarter. Jaffetilchin Investment Partners LLC now owns 32,983 shares of the company’s stock valued at $221,000 after acquiring an additional 6,700 shares during the last quarter. XTX Topco Ltd acquired a new position in electroCore in the 1st quarter worth about $90,000. Jump Financial LLC bought a new position in electroCore in the first quarter valued at about $95,000. Jane Street Group LLC acquired a new stake in shares of electroCore during the fourth quarter valued at about $278,000. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of electroCore during the first quarter worth about $153,000. 26.74% of the stock is currently owned by institutional investors and hedge funds.

About electroCore

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.