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

electroCore, Inc. (NASDAQ:ECOR) was the recipient of a significant growth in short interest during 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 trading volume, of 155,400 shares, the days-to-cover ratio is currently 1.9 days. Approximately 5.0% of the company’s stock are short sold.

electroCore Stock Performance

NASDAQ:ECOR traded down $0.36 on Friday, hitting $6.45. The stock had a trading volume of 171,686 shares, compared to its average volume of 71,753. electroCore has a 1 year low of $5.32 and a 1 year high of $19.49. The firm’s fifty day simple moving average is $14.27 and its two-hundred day simple moving average is $12.37. The stock has a market cap of $46.39 million, a P/E ratio of -3.52 and a beta of 0.24.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on ECOR shares. LADENBURG THALM/SH SH cut their target price on electroCore from $28.00 to $26.00 and set a “buy” rating on the stock in a research report on Thursday, March 13th. HC Wainwright reaffirmed a “buy” rating and set a $25.00 price objective on shares of electroCore in a report on Thursday, March 13th.

Insider Activity

In other electroCore news, Director Thomas J. Errico purchased 6,000 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The shares were acquired at an average price of $8.10 per share, with a total value of $48,600.00. Following the transaction, the director now owns 256,401 shares in the company, valued at $2,076,848.10. The trade was a 2.40 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 19.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. raised its stake in shares of electroCore by 31,250.0% during the 4th quarter. JPMorgan Chase & Co. now owns 3,762 shares of the company’s stock worth $61,000 after purchasing an additional 3,750 shares during the period. DnB Asset Management AS bought a new stake in electroCore in the fourth quarter worth about $180,000. NewEdge Advisors LLC purchased a new position in electroCore in the fourth quarter valued at about $274,000. Jane Street Group LLC purchased a new position in electroCore in the fourth quarter valued at about $278,000. Finally, Marshall Wace LLP bought a new position in shares of electroCore during the 4th quarter valued at approximately $438,000. Hedge funds and other institutional investors own 26.74% of the company’s stock.

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.