electroCore (NASDAQ:ECOR) Trading Down 2.1% – Should You Sell?

Shares of electroCore, Inc. (NASDAQ:ECOR) traded down 2.1% during mid-day trading on Friday . The company traded as low as $6.91 and last traded at $7.58. 55,013 shares changed hands during mid-day trading, an increase of 22% from the average session volume of 45,247 shares. The stock had previously closed at $7.74.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on ECOR shares. Zacks Research downgraded electroCore from a “hold” rating to a “strong sell” rating in a report on Wednesday, January 28th. Weiss Ratings restated a “sell (d-)” rating on shares of electroCore in a research report on Monday, December 29th. Wall Street Zen upgraded electroCore from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. HC Wainwright dropped their price objective on electroCore from $25.00 to $18.00 and set a “buy” rating for the company in a research note on Monday, January 26th. Finally, Brookline Capital Acquisition raised electroCore to a “strong-buy” rating in a report on Tuesday, February 3rd. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, electroCore presently has an average rating of “Hold” and a consensus price target of $22.00.

electroCore Trading Down 2.1%

The firm has a market capitalization of $60.64 million, a price-to-earnings ratio of -4.43 and a beta of 0.48. The firm has a fifty day moving average price of $6.02 and a 200 day moving average price of $5.40.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ECOR. Jaffetilchin Investment Partners LLC grew its holdings in 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 acquiring an additional 3,600 shares during the last quarter. Two Sigma Investments LP lifted its position in shares of electroCore by 20.8% during the third quarter. Two Sigma Investments LP now owns 24,603 shares of the company’s stock worth $122,000 after purchasing an additional 4,231 shares in the last quarter. International Assets Investment Management LLC grew its stake in shares of electroCore by 15.2% during the fourth quarter. International Assets Investment Management LLC now owns 88,720 shares of the company’s stock valued at $398,000 after purchasing an additional 11,700 shares during the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of electroCore in the fourth quarter valued at approximately $82,000. Finally, Jane Street Group LLC increased its holdings 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 valued at $246,000 after purchasing an additional 19,599 shares in the last quarter. Institutional investors and hedge funds own 26.74% of the company’s stock.

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.