electroCore (NASDAQ:ECOR) Stock Price Down 4.5% – Should You Sell?

Shares of electroCore, Inc. (NASDAQ:ECOR) were down 4.5% on Tuesday . The company traded as low as $7.72 and last traded at $7.91. Approximately 146,784 shares were traded 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.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Zacks Research raised shares of electroCore from a “strong sell” rating to a “hold” rating in a research report on Friday, March 27th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of electroCore in a research 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $18.00.

electroCore Stock Down 4.5%

The firm has a market cap of $65.65 million, a P/E ratio of -4.47 and a beta of 0.88. The firm has a fifty day moving average of $7.94 and a 200-day moving average of $6.82.

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

Insider Activity

In other news, Director Thomas J. Errico bought 9,992 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The stock was acquired at an average cost of $5.99 per share, with a total value of $59,852.08. Following the completion of the purchase, the director owned 360,071 shares of the company’s stock, valued at $2,156,825.29. This represents a 2.85% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Joshua S. Lev sold 6,667 shares of the business’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $9.00, for a total transaction of $60,003.00. Following the transaction, the chief financial officer owned 84,889 shares in the company, valued at approximately $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. In the last 90 days, insiders sold 105,739 shares of company stock valued at $720,256. 13.80% of the stock is owned by insiders.

Institutional Investors Weigh In On electroCore

A number of institutional investors and hedge funds have recently modified their holdings of ECOR. NewEdge Advisors LLC lifted its stake in electroCore by 857.9% in the 1st quarter. NewEdge Advisors LLC now owns 161,955 shares of the company’s stock valued at $1,083,000 after purchasing an additional 145,047 shares during the last quarter. Tejara Capital Ltd acquired a new position in electroCore during the fourth quarter worth approximately $450,000. DRW Securities LLC bought a new stake in electroCore in the fourth quarter valued at approximately $264,000. WealthShield Partners LLC acquired a new stake in shares of electroCore in the first quarter valued at approximately $157,000. Finally, Cubist Systematic Strategies LLC bought a new position in shares of electroCore during the 1st quarter worth approximately $153,000. 26.74% of the stock is owned by 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.