electroCore (NASDAQ:ECOR) Announces Earnings Results

electroCore (NASDAQ:ECOR) posted its earnings results on Wednesday. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($0.07), FiscalAI reports. The company had revenue of $8.69 million for the quarter, compared to the consensus estimate of $7.84 million. electroCore had a negative net margin of 47.46% and a negative return on equity of 308.23%. electroCore updated its FY 2025 guidance to EPS.

electroCore Trading Up 3.1%

Shares of ECOR traded up $0.18 during trading hours on Friday, reaching $6.02. 247,092 shares of the stock traded hands, compared to its average volume of 113,027. The company has a market cap of $48.16 million, a P/E ratio of -3.52 and a beta of 0.30. The company’s 50-day moving average price is $5.02 and its two-hundred day moving average price is $5.61. electroCore has a 52-week low of $4.16 and a 52-week high of $19.49.

Insider Buying and Selling

In other electroCore news, Director Thomas J. Errico acquired 15,000 shares of the stock in a transaction dated Monday, August 11th. The shares were acquired at an average cost of $4.47 per share, for a total transaction of $67,050.00. Following the completion of the transaction, the director directly owned 281,401 shares of the company’s stock, valued at approximately $1,257,862.47. The trade was a 5.63% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 13.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. NewEdge Advisors LLC boosted its position in shares of electroCore by 857.9% during the first quarter. NewEdge Advisors LLC now owns 161,955 shares of the company’s stock worth $1,083,000 after acquiring an additional 145,047 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new position in electroCore during the 1st quarter valued at approximately $153,000. Finally, Jane Street Group LLC grew 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. 26.74% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ECOR shares. Weiss Ratings reissued a “sell (e+)” rating on shares of electroCore in a report on Wednesday, October 8th. Wall Street Zen cut electroCore from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $25.50.

electroCore Company Profile

electroCore, Inc, a commercial stage bioelectronic medicine and wellness company, provides non-invasive vagus nerve stimulation technology platform in the United States, the United Kingdom, and internationally. The company is developing gammaCore, a prescription only handheld device intended for regular or intermittent use for the acute treatment of pain associated with migraine and episodic cluster headache, as well as for the treatment of hemicrania continua and paroxysmal hemicrania.