electroCore (NASDAQ:ECOR) Stock Rating Lowered by Zacks Research

electroCore (NASDAQ:ECOR) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Wednesday,Zacks.com reports.

Several other research firms also recently weighed in on ECOR. HC Wainwright decreased their price target on shares of electroCore from $25.00 to $18.00 and set a “buy” rating on the stock in a research report on Monday. Weiss Ratings reiterated a “sell (d-)” rating on shares of electroCore in a research report on Monday, December 29th. Finally, Wall Street Zen raised electroCore from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Two research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, electroCore has an average rating of “Hold” and a consensus target price of $22.00.

electroCore Stock Performance

ECOR stock opened at $7.10 on Wednesday. The company has a market cap of $56.80 million, a price-to-earnings ratio of -4.15 and a beta of 0.34. The business’s 50-day moving average is $5.47 and its two-hundred day moving average is $5.49. electroCore has a fifty-two week low of $4.16 and a fifty-two week high of $19.49.

electroCore (NASDAQ:ECOR) last released its quarterly earnings results on Wednesday, November 5th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.07). electroCore had a negative net margin of 47.46% and a negative return on equity of 447.87%. The firm had revenue of $8.69 million for the quarter, compared to the consensus estimate of $7.84 million. Equities analysts predict that electroCore will post -1.49 earnings per share for the current year.

Institutional Trading of electroCore

Hedge funds have recently bought and sold shares of the stock. FNY Investment Advisers LLC bought a new stake in shares of electroCore in the fourth quarter worth about $82,000. Jaffetilchin Investment Partners LLC grew its holdings in electroCore by 7.4% during the 4th quarter. Jaffetilchin Investment Partners LLC now owns 52,363 shares of the company’s stock valued at $235,000 after buying an additional 3,600 shares in the last quarter. Two Sigma Investments LP increased its stake in electroCore by 20.8% in the 3rd quarter. Two Sigma Investments LP now owns 24,603 shares of the company’s stock worth $122,000 after acquiring an additional 4,231 shares during the last quarter. International Assets Investment Management LLC raised its holdings in shares of electroCore by 65.7% during the 2nd quarter. International Assets Investment Management LLC now owns 77,020 shares of the company’s stock worth $407,000 after acquiring an additional 30,550 shares in the last quarter. Finally, Jane Street Group LLC boosted its position in shares of electroCore by 114.4% during the 1st quarter. Jane Street Group LLC now owns 36,726 shares of the company’s stock valued at $246,000 after acquiring an additional 19,599 shares during the last quarter. Hedge funds and other institutional investors own 26.74% of the company’s stock.

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.