electroCore (NASDAQ:ECOR) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

electroCore, Inc. (NASDAQ:ECOR)’s stock price passed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $7.75 and traded as high as $8.59. electroCore shares last traded at $8.40, with a volume of 235,534 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of electroCore in a research note on Monday, September 21st. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, electroCore currently has an average rating of “Hold” and an average price target of $18.00.

electroCore Trading Up 16.2%

The firm has a market cap of $75.77 million, a price-to-earnings ratio of -5.06 and a beta of 1.23. The firm has a 50-day moving average of $9.36 and a two-hundred day moving average of $7.75.

electroCore (NASDAQ:ECOR) last released its earnings results on Wednesday, November 4th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.14. The business had revenue of $9.69 million during the quarter, compared to analyst estimates of $10.93 million. As a group, equities analysts anticipate that electroCore, Inc. will post -1.40 EPS for the current year.

Insider Activity at electroCore

In other news, Director Thomas J. Errico acquired 5,000 shares of the stock in a transaction dated Monday, September 14th. The shares were acquired at an average cost of $9.82 per share, for a total transaction of $49,100.00. Following the completion of the transaction, the director owned 363,904 shares in the company, valued at approximately $3,573,537.28. This trade represents a 1.39% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Joshua Lev sold 3,000 shares of the business’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 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. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 20,000 shares of company stock worth $200,120 in the last three months. 7.80% of the stock is owned by insiders.

Institutional Investors Weigh In On electroCore

An institutional investor recently bought a new position in electroCore stock. WealthShield Partners LLC purchased a new stake in electroCore, Inc. (NASDAQ:ECOR) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 25,978 shares of the company’s stock, valued at approximately $157,000. WealthShield Partners LLC owned 0.32% of electroCore at the end of the most recent reporting period. Institutional investors and hedge funds 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.