electroCore (NASDAQ:ECOR) Cut to “Strong Sell” at Zacks Research

Zacks Research lowered shares of electroCore (NASDAQ:ECOR) from a hold rating to a strong sell rating in a research note released on Wednesday,Zacks.com reports.

ECOR has been the subject of a number of other research reports. Wall Street Zen upgraded electroCore from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of electroCore in a report on Monday, December 29th. Finally, HC Wainwright cut their price objective on electroCore from $25.00 to $18.00 and set a “buy” rating on the stock in a report on Monday, January 26th. Two investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $22.00.

electroCore Stock Down 6.2%

NASDAQ:ECOR opened at $6.66 on Wednesday. The business’s 50-day moving average price is $5.51 and its 200 day moving average price is $5.48. electroCore has a 52-week low of $4.16 and a 52-week high of $19.49. The firm has a market cap of $53.28 million, a P/E ratio of -3.89 and a beta of 0.34.

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

Institutional Trading of electroCore

Hedge funds have recently made changes to their positions in the stock. NewEdge Advisors LLC increased its stake in electroCore by 857.9% in the 1st quarter. NewEdge Advisors LLC now owns 161,955 shares of the company’s stock valued at $1,083,000 after buying an additional 145,047 shares during the period. International Assets Investment Management LLC grew its holdings in shares of electroCore by 65.7% during the 2nd quarter. International Assets Investment Management LLC now owns 77,020 shares of the company’s stock valued at $407,000 after acquiring an additional 30,550 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of electroCore in the first quarter worth $153,000. Jane Street Group LLC increased its stake in shares of electroCore by 114.4% in the first quarter. Jane Street Group LLC now owns 36,726 shares of the company’s stock worth $246,000 after acquiring an additional 19,599 shares during the last quarter. Finally, FNY Investment Advisers LLC purchased a new stake in shares of electroCore during the fourth quarter worth $82,000. 26.74% of the stock is owned by hedge funds and other 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.