electroCore (NASDAQ:ECOR) Trading Up 1.4% – What’s Next?

Shares of electroCore, Inc. (NASDAQ:ECOR) traded up 1.4% on Friday . The stock traded as high as $4.96 and last traded at $4.95. 19,108 shares were traded during mid-day trading, a decline of 46% from the average session volume of 35,493 shares. The stock had previously closed at $4.88.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of electroCore from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Weiss Ratings restated a “sell (d-)” rating on shares of electroCore in a report on Monday, December 22nd. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $25.50.

electroCore Stock Performance

The firm has a market cap of $39.58 million, a P/E ratio of -2.89 and a beta of 0.33. The stock’s 50 day simple moving average is $5.03 and its 200 day simple moving average is $5.42.

electroCore (NASDAQ:ECOR) last posted its earnings results on Wednesday, November 5th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.33) by ($0.07). The business had revenue of $8.69 million for the quarter, compared to the consensus estimate of $7.84 million. electroCore had a negative return on equity of 447.87% and a negative net margin of 47.46%. As a group, analysts forecast that electroCore, Inc. will post -1.49 EPS for the current fiscal year.

Hedge Funds Weigh In On electroCore

Several large investors have recently bought and sold shares of ECOR. AWM Investment Company Inc. raised its holdings in shares of electroCore by 95.0% in the first quarter. AWM Investment Company Inc. now owns 318,106 shares of the company’s stock valued at $2,128,000 after purchasing an additional 154,973 shares during the last quarter. NewEdge Advisors LLC grew its position in electroCore by 857.9% in the 1st quarter. NewEdge Advisors LLC now owns 161,955 shares of the company’s stock worth $1,083,000 after purchasing an additional 145,047 shares in the last quarter. International Assets Investment Management LLC increased its stake in electroCore by 65.7% in the 2nd quarter. International Assets Investment Management LLC now owns 77,020 shares of the company’s stock valued at $407,000 after buying an additional 30,550 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of electroCore during the 1st quarter worth approximately $153,000. Finally, Jane Street Group LLC lifted its position in shares of 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 buying an additional 19,599 shares in the last quarter. 26.74% of the stock is currently owned by institutional investors.

About electroCore

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.