electroCore, Inc. (NASDAQ:ECOR) Short Interest Update

electroCore, Inc. (NASDAQ:ECOR) was the target of a large growth in short interest in 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 trading volume, of 155,400 shares, the short-interest ratio is presently 1.9 days. Currently, 5.0% of the shares of the company are sold short.

Wall Street Analyst Weigh In

Several brokerages have commented on ECOR. HC Wainwright restated a “buy” rating and issued a $25.00 target price on shares of electroCore in a research note on Thursday, March 13th. LADENBURG THALM/SH SH cut their price objective 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.

Insider Buying and Selling at electroCore

In related news, Director Thomas J. Errico purchased 6,000 shares of electroCore stock in a transaction dated Monday, March 17th. The stock was bought at an average cost of $8.10 per share, for a total transaction of $48,600.00. Following the completion of the transaction, 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 ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 19.70% of the company’s stock.

Institutional Trading of electroCore

Several institutional investors and hedge funds have recently modified their holdings of the business. Renaissance Technologies LLC raised its stake in electroCore by 80.6% in the fourth 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 increased its holdings in shares of electroCore by 10.3% in the 3rd quarter. Geode Capital Management LLC now owns 63,485 shares of the company’s stock worth $458,000 after buying an additional 5,951 shares during the last quarter. HighTower Advisors LLC bought a new position in shares of electroCore in the 3rd quarter worth $255,000. Marshall Wace LLP purchased a new stake in shares of electroCore during the 4th quarter valued at $438,000. Finally, Jane Street Group LLC bought a new stake in shares of electroCore during the 4th quarter worth $278,000. Hedge funds and other institutional investors own 26.74% of the company’s stock.

electroCore Trading Down 5.3 %

Shares of electroCore stock traded down $0.36 during trading on Friday, hitting $6.45. The stock had a trading volume of 171,686 shares, compared to its average volume of 71,753. The firm has a market cap of $46.39 million, a price-to-earnings ratio of -3.52 and a beta of 0.24. electroCore has a 12 month low of $5.32 and a 12 month high of $19.49. The business’s 50-day moving average is $14.27 and its 200 day moving average is $12.37.

About electroCore

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.