electroCore, Inc. (NASDAQ:ECOR) Short Interest Update

electroCore, Inc. (NASDAQ:ECOR) was the recipient of a large increase in short interest during the month of July. As of July 15th, there was short interest totaling 367,579 shares, an increase of 80.0% from the June 30th total of 204,261 shares. Based on an average daily volume of 106,502 shares, the days-to-cover ratio is currently 3.5 days. Currently, 4.7% of the shares of the company are short sold.

electroCore Stock Performance

electroCore stock traded down $0.20 during trading hours on Friday, reaching $6.09. 37,061 shares of the stock were exchanged, compared to its average volume of 86,389. The stock has a market cap of $54.91 million, a P/E ratio of -3.44 and a beta of 0.88. electroCore has a 52-week low of $4.16 and a 52-week high of $10.49. The firm’s 50 day moving average is $7.91 and its 200 day moving average is $6.99.

electroCore (NASDAQ:ECOR) last issued its earnings results on Wednesday, May 6th. The company reported ($0.59) earnings per share for the quarter, meeting the consensus estimate of ($0.59). The business had revenue of $9.58 million for the quarter, compared to the consensus estimate of $9.01 million. electroCore had a negative net margin of 44.08% and a negative return on equity of 1,956.38%. Equities research analysts expect that electroCore will post -1.48 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of electroCore in a report on Wednesday, June 24th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $18.00.

Insider Buying and Selling at electroCore

In other electroCore news, Director Thomas J. Errico acquired 9,992 shares of the company’s stock in a transaction on Thursday, May 21st. The shares were bought at an average cost of $5.99 per share, for a total transaction of $59,852.08. Following the completion of the purchase, the director owned 360,071 shares in the company, valued at $2,156,825.29. This trade represents a 2.85% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Joshua S. Lev sold 6,667 shares of the company’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $9.00, for a total transaction of $60,003.00. Following the completion of the sale, the chief financial officer directly owned 84,889 shares of the company’s stock, valued at $764,001. The trade was a 7.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 7.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On electroCore

Large investors have recently modified their holdings of the business. FNY Investment Advisers LLC acquired a new stake in shares of electroCore in the 4th quarter valued at approximately $82,000. Two Sigma Investments LP raised its position in electroCore by 20.8% in the third quarter. Two Sigma Investments LP now owns 24,603 shares of the company’s stock worth $122,000 after acquiring an additional 4,231 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in electroCore in the first quarter valued at $153,000. WealthShield Partners LLC purchased a new stake in shares of electroCore during the 1st quarter worth $157,000. Finally, Jaffetilchin Investment Partners LLC boosted its position in shares of electroCore by 7.4% during the 4th quarter. Jaffetilchin Investment Partners LLC now owns 52,363 shares of the company’s stock worth $235,000 after purchasing an additional 3,600 shares in the last quarter. 26.74% of the stock is owned by hedge funds and other institutional investors.

electroCore Company Profile

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.