electroCore, Inc. (NASDAQ:ECOR) Short Interest Up 80.0% in July

electroCore, Inc. (NASDAQ:ECOR) was the target of a significant increase in short interest in July. As of July 15th, there was short interest totaling 367,579 shares, an increase of 80.0% from the June 30th total of 204,261 shares. Currently, 4.7% of the shares of the stock are sold short. Based on an average daily trading volume, of 106,502 shares, the days-to-cover ratio is currently 3.5 days.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of electroCore in a report 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 issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $18.00.

Insider Buying and Selling

In other electroCore news, Director Thomas J. Errico purchased 9,992 shares of the firm’s stock in a transaction on Thursday, May 21st. The shares were purchased 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. The trade was a 2.85% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Joshua S. Lev sold 6,667 shares of the company’s stock in a transaction 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 sale, the chief financial officer directly owned 84,889 shares of the company’s stock, valued at $764,001. This trade represents a 7.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 7.80% of the stock is owned by company insiders.

Institutional Trading of electroCore

Several large investors have recently added to or reduced their stakes in ECOR. FNY Investment Advisers LLC bought a new stake in shares of electroCore during the 4th quarter valued at $82,000. Two Sigma Investments LP lifted its position in electroCore by 20.8% during the 3rd quarter. Two Sigma Investments LP now owns 24,603 shares of the company’s stock valued at $122,000 after acquiring an additional 4,231 shares during the period. Cubist Systematic Strategies LLC bought a new stake in electroCore during the first quarter worth about $153,000. WealthShield Partners LLC bought a new stake in electroCore during the first quarter worth about $157,000. Finally, Jaffetilchin Investment Partners LLC grew its holdings in electroCore by 7.4% in the fourth quarter. Jaffetilchin Investment Partners LLC now owns 52,363 shares of the company’s stock worth $235,000 after purchasing an additional 3,600 shares during the period. Institutional investors own 26.74% of the company’s stock.

electroCore Price Performance

NASDAQ ECOR opened at $6.09 on Friday. electroCore has a 1 year low of $4.16 and a 1 year high of $10.49. The stock has a market capitalization of $54.93 million, a PE ratio of -3.44 and a beta of 0.88. The business’s 50-day moving average is $7.90 and its 200 day moving average is $6.99.

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

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.