electroCore (NASDAQ:ECOR) Trading 3% Higher – Still a Buy?

electroCore, Inc. (NASDAQ:ECOR) shares were up 3% on Tuesday . The stock traded as high as $10.29 and last traded at $10.05. 84,895 shares changed hands during trading, an increase of 23% from the average session volume of 68,756 shares. The stock had previously closed at $9.76.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of electroCore in a research note on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $18.00.

electroCore Stock Up 7.6%

The business has a 50-day simple moving average of $8.21 and a 200-day simple moving average of $7.63. The stock has a market cap of $103.32 million, a P/E ratio of -6.82 and a beta of 1.00.

electroCore (NASDAQ:ECOR) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.33) EPS for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.09. The company had revenue of $9.45 million for the quarter, compared to analyst estimates of $9.49 million. electroCore had a negative net margin of 39.96% and a negative return on equity of 1,956.38%. On average, analysts predict that electroCore, Inc. will post -1.4 earnings per share for the current fiscal year.

Insider Transactions at electroCore

In other news, Director Thomas J. Errico purchased 5,000 shares of the firm’s stock in a transaction on Thursday, August 13th. The stock was bought at an average cost of $9.85 per share, for a total transaction of $49,250.00. Following the completion of the acquisition, the director directly owned 343,332 shares of the company’s stock, valued at approximately $3,381,820.20. The trade was a 1.48% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Joshua Lev sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $9.36, for a total value of $28,080.00. Following the completion of the sale, the chief financial officer directly owned 84,889 shares in the company, valued at approximately $794,561.04. This represents a 3.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 20,000 shares of company stock valued at $200,120 over the last 90 days. Corporate insiders own 7.80% of the company’s stock.

Institutional Investors Weigh In On electroCore

A hedge fund recently bought a new stake in electroCore stock. WealthShield Partners LLC bought a new position in shares of electroCore, Inc. (NASDAQ:ECOR) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 25,978 shares of the company’s stock, valued at approximately $157,000. WealthShield Partners LLC owned 0.32% of electroCore at the end of the most recent quarter. Hedge funds and other institutional investors own 26.74% of the company’s stock.

electroCore Company Profile

electroCore, Inc is a commercial-stage medical device company focused on bioelectronic medicine, an approach that uses electrical signals to influence nerve activity and help manage health conditions. The company develops non-invasive vagus nerve stimulation (nVNS) technologies designed to be used without surgery or implanted devices.

Its primary prescription product is gammaCore, a handheld device that delivers non-invasive vagus nerve stimulation and has been cleared in the United States for the treatment and prevention of certain migraine and cluster headache symptoms.