electroCore, Inc. (NASDAQ:ECOR) Sees Large Increase in Short Interest

electroCore, Inc. (NASDAQ:ECOR) was the recipient of a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 288,100 shares, a growth of 136.9% from the February 28th total of 121,600 shares. Based on an average daily volume of 155,400 shares, the short-interest ratio is currently 1.9 days. Currently, 5.0% of the shares of the company are sold short.

Insider Buying and Selling at electroCore

In other electroCore news, Director Thomas J. Errico purchased 6,000 shares of the firm’s stock in a transaction dated Monday, March 17th. The stock was bought at an average price of $8.10 per share, with a total value of $48,600.00. Following the completion of the purchase, the director now owns 256,401 shares in the company, valued at $2,076,848.10. This trade represents a 2.40 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 19.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On electroCore

Several hedge funds and other institutional investors have recently bought and sold shares of ECOR. Renaissance Technologies LLC boosted its position in shares of electroCore by 80.6% during the 4th quarter. Renaissance Technologies LLC now owns 131,786 shares of the company’s stock valued at $2,136,000 after purchasing an additional 58,800 shares in the last quarter. Geode Capital Management LLC lifted its stake in electroCore by 10.3% during the third quarter. Geode Capital Management LLC now owns 63,485 shares of the company’s stock valued at $458,000 after purchasing an additional 5,951 shares during the last quarter. HighTower Advisors LLC acquired a new stake in electroCore during the third quarter valued at approximately $255,000. Marshall Wace LLP bought a new stake in electroCore during the fourth quarter worth approximately $438,000. Finally, Jane Street Group LLC acquired a new position in electroCore in the fourth quarter worth approximately $278,000. 26.74% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ECOR. LADENBURG THALM/SH SH decreased their target price on shares of electroCore from $28.00 to $26.00 and set a “buy” rating for the company in a research report on Thursday, March 13th. HC Wainwright reiterated a “buy” rating and issued a $25.00 price objective on shares of electroCore in a report on Thursday, March 13th.

electroCore Price Performance

Shares of ECOR traded down $0.36 during midday trading on Friday, reaching $6.45. The stock had a trading volume of 171,686 shares, compared to its average volume of 72,010. The company has a market capitalization of $46.39 million, a P/E ratio of -3.52 and a beta of 0.24. The firm’s 50 day moving average price is $14.08 and its 200-day moving average price is $12.37. electroCore has a 52 week low of $5.32 and a 52 week high of $19.49.

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.