electroCore (NASDAQ:ECOR) Shares Cross Above 200 Day Moving Average – Should You Sell?

electroCore, Inc. (NASDAQ:ECOR) shares passed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $7.70 and traded as high as $7.90. electroCore shares last traded at $7.76, with a volume of 62,139 shares.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of electroCore in a report on Monday, September 21st. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $18.00.

electroCore Stock Down 3.7%

The firm’s 50 day simple moving average is $9.60 and its 200 day simple moving average is $7.72. The company has a market cap of $73.15 million, a price-to-earnings ratio of -4.89 and a beta of 1.05.

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 analysts’ consensus estimates of ($0.42) by $0.09. The company had revenue of $9.45 million for the quarter, compared to the consensus estimate of $9.49 million. Analysts anticipate that electroCore, Inc. will post -1.40 EPS for the current fiscal year.

Insider Activity

In other electroCore news, Director Thomas J. Errico bought 5,000 shares of the stock in a transaction on Thursday, August 13th. The shares were bought at an average price of $9.85 per share, with a total value of $49,250.00. Following the purchase, the director directly owned 343,332 shares in the company, valued at $3,381,820.20. The trade was a 1.48% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Joshua Lev sold 12,000 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $10.22, for a total transaction of $122,640.00. Following the completion of the transaction, the chief financial officer owned 84,889 shares in the company, valued at approximately $867,565.58. This represents a 12.39% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 20,000 shares of company stock worth $200,120. Company insiders own 7.80% of the company’s stock.

Institutional Investors Weigh In On electroCore

An institutional investor recently bought a new position in electroCore stock. WealthShield Partners LLC purchased a new position in shares of electroCore, Inc. (NASDAQ:ECOR) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 25,978 shares of the company’s stock, valued at approximately $157,000. WealthShield Partners LLC owned about 0.32% of electroCore at the end of the most recent reporting period. Institutional investors own 26.74% of the company’s stock.

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.