electroCore (NASDAQ:ECOR) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

electroCore, Inc. (NASDAQ:ECOR) shares passed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $7.75 and traded as high as $8.59. electroCore shares last traded at $8.40, with a volume of 235,534 shares traded.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of electroCore in a research note on Monday, September 21st. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $18.00.

electroCore Price Performance

The firm has a market capitalization of $75.77 million, a PE ratio of -5.06 and a beta of 1.23. The company has a fifty day moving average of $9.36 and a 200-day moving average of $7.75.

electroCore (NASDAQ:ECOR) last posted its quarterly earnings results on Wednesday, November 4th. The company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.14. The firm had revenue of $9.69 million for the quarter, compared to analysts’ expectations of $10.93 million. Equities analysts anticipate that electroCore, Inc. will post -1.40 EPS for the current year.

Insiders Place Their Bets

In other electroCore news, Director Thomas J. Errico acquired 5,000 shares of the firm’s stock in a transaction that occurred on Monday, September 14th. The stock was purchased at an average cost of $9.82 per share, for a total transaction of $49,100.00. Following the completion of the acquisition, the director owned 363,904 shares of the company’s stock, valued at approximately $3,573,537.28. This trade represents a 1.39% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Joshua Lev sold 3,000 shares of the stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $9.36, for a total transaction of $28,080.00. Following the transaction, the chief financial officer directly owned 84,889 shares in the company, valued at $794,561.04. The trade was a 3.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 20,000 shares of company stock valued at $200,120 over the last quarter. 7.80% of the stock is currently owned by corporate insiders.

Institutional Trading of electroCore

A hedge fund recently bought a new position in electroCore stock. WealthShield Partners LLC acquired a new stake in shares of electroCore, Inc. (NASDAQ:ECOR) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 25,978 shares of the company’s stock, valued at approximately $157,000. WealthShield Partners LLC owned about 0.32% of electroCore as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 26.74% of the company’s stock.

About electroCore

electroCore, Inc (NASDAQ: ECOR) is a commercial-stage medical device company focused on bioelectronic medicine and non-invasive vagus nerve stimulation (nVNS). Its technology is designed to stimulate the vagus nerve through the neck without requiring surgery or implanted components.

The company’s primary prescription product is gammaCore, a handheld nVNS device used for the acute treatment of pain associated with migraine and episodic cluster headaches in adults. electroCore also markets consumer-oriented products, including Truvaga, a handheld vagus nerve stimulation device positioned for general wellness applications.