electroCore (NASDAQ:ECOR) Shares Down 4.5% – Time to Sell?

electroCore, Inc. (NASDAQ:ECOR)’s stock price was down 4.5% during trading on Tuesday . The stock traded as low as $7.72 and last traded at $7.91. 146,784 shares traded hands during mid-day trading, an increase of 66% from the average session volume of 88,615 shares. The stock had previously closed at $8.28.

Analysts Set New Price Targets

ECOR has been the topic of several research analyst reports. Zacks Research upgraded shares of electroCore from a “strong sell” rating to a “hold” rating in a research report on Friday, March 27th. Weiss Ratings restated a “sell (d-)” rating on shares of electroCore in a report on Wednesday, June 24th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $18.00.

electroCore Trading Up 1.7%

The stock’s fifty day moving average price is $7.95 and its 200 day moving average price is $6.84. The stock has a market cap of $55.11 million, a P/E ratio of -3.75 and a beta of 0.88.

electroCore (NASDAQ:ECOR) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($0.59) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.59). electroCore had a negative net margin of 44.08% and a negative return on equity of 1,956.38%. The company had revenue of $9.58 million during the quarter, compared to analyst estimates of $9.01 million. As a group, sell-side analysts forecast that electroCore, Inc. will post -1.48 earnings per share for the current year.

Insider Activity

In other news, CFO Joshua S. Lev sold 6,667 shares of electroCore stock in a transaction that occurred on 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 transaction, the chief financial officer directly owned 84,889 shares in the company, valued at approximately $764,001. This trade represents a 7.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daniel S. Goldberger sold 80,000 shares of the business’s stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $6.80, for a total value of $544,000.00. Following the completion of the sale, the director directly owned 211,471 shares in the company, valued at approximately $1,438,002.80. This represents a 27.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 105,739 shares of company stock worth $720,256. Insiders own 13.80% of the company’s stock.

Institutional Investors Weigh In On electroCore

A number of institutional investors have recently modified their holdings of ECOR. WealthShield Partners LLC bought a new position in shares of electroCore during the first quarter valued at $157,000. DRW Securities LLC bought a new position in electroCore in the 4th quarter worth about $264,000. Tejara Capital Ltd purchased a new stake in electroCore during the 4th quarter valued at about $450,000. International Assets Investment Management LLC grew its position in electroCore by 15.2% during the 4th 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. Finally, FNY Investment Advisers LLC bought a new stake in electroCore during the 4th quarter valued at about $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.