electroCore (NASDAQ:ECOR) Stock Jumps 4.3% – Should You Buy?

electroCore, Inc. (NASDAQ:ECOR) traded up 4.3% during mid-day trading on Tuesday. The stock traded as high as $7.90 and last traded at $7.76. Approximately 62,139 shares changed hands during mid-day trading, The stock had previously closed at $7.44.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of electroCore in a research report on Monday, September 21st. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $18.00.

electroCore Price Performance

The stock’s fifty day moving average is $9.64 and its two-hundred day moving average is $7.70.

electroCore (NASDAQ:ECOR) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.33) earnings per share for the quarter, beating the consensus estimate of ($0.42) by $0.09. The firm had revenue of $9.45 million during the quarter, compared to the consensus estimate of $9.49 million. Analysts expect that electroCore, Inc. will post -1.40 earnings per share for the current year.

Insider Buying and Selling

In other electroCore news, Director Thomas Errico acquired 5,000 shares of the firm’s stock in a transaction that occurred on Monday, September 14th. The stock was acquired at an average cost of $9.82 per share, with a total value of $49,100.00. Following the acquisition, the director directly owned 363,904 shares of the company’s stock, valued at $3,573,537.28. This represents a 1.39% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Joshua S. Lev sold 3,000 shares of the firm’s stock in a transaction that occurred on 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 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. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 20,000 shares of company stock worth $200,120. Corporate insiders own 7.80% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in electroCore stock. WealthShield Partners LLC purchased a new stake in shares of electroCore, Inc. (NASDAQ:ECOR) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 25,978 shares of the company’s stock, valued at approximately $157,000. WealthShield Partners LLC owned approximately 0.32% of electroCore as of its most recent filing with the SEC. 26.74% of the stock is owned by hedge funds and other institutional investors.

About electroCore

electroCore, Inc (NASDAQ: ECOR) is a commercial-stage medical device company focused on bioelectronic medicine and non-invasive vagus nerve stimulation (nVNS). Its technology is designed to stimulate the vagus nerve through the neck without requiring surgery or implanted components.

The company’s primary prescription product is gammaCore, a handheld nVNS device used for the acute treatment of pain associated with migraine and episodic cluster headaches in adults. electroCore also markets consumer-oriented products, including Truvaga, a handheld vagus nerve stimulation device positioned for general wellness applications.