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

electroCore, Inc. (NASDAQ:ECOR) was the recipient of a significant increase in short interest in the month of June. As of June 15th, there was short interest totalling 1,111,000 shares, an increase of 52.7% from the May 15th total of 727,600 shares. Approximately 6.3% of the shares of the company are sold short. Based on an average daily volume of 214,900 shares, the days-to-cover ratio is presently 5.2 days.

In related news, Director Thomas J. Errico acquired 21,000 shares of electroCore stock in a transaction on Thursday, June 6th. The stock was purchased at an average cost of $1.77 per share, with a total value of $37,170.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 43.78% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in ECOR. New York State Common Retirement Fund bought a new stake in shares of electroCore during the 4th quarter valued at about $41,000. Valeo Financial Advisors LLC raised its holdings in shares of electroCore by 101.6% during the 2nd quarter. Valeo Financial Advisors LLC now owns 26,000 shares of the company’s stock valued at $52,000 after buying an additional 13,100 shares in the last quarter. Wsfs Capital Management LLC purchased a new position in shares of electroCore during the 4th quarter valued at about $63,000. Rhumbline Advisers purchased a new position in shares of electroCore during the 1st quarter valued at about $73,000. Finally, Two Sigma Investments LP purchased a new position in shares of electroCore during the 4th quarter valued at about $85,000. 15.20% of the stock is owned by institutional investors.

NASDAQ ECOR traded down $0.05 during trading on Friday, hitting $1.25. 79,350 shares of the company’s stock were exchanged, compared to its average volume of 189,290. The company has a debt-to-equity ratio of 0.08, a quick ratio of 10.07 and a current ratio of 10.74. The stock has a market capitalization of $38.52 million and a P/E ratio of -1.05. electroCore has a fifty-two week low of $1.25 and a fifty-two week high of $17.99. The firm’s 50 day moving average price is $1.82.

electroCore (NASDAQ:ECOR) last issued its earnings results on Tuesday, May 14th. The company reported ($0.47) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.54) by $0.07. electroCore had a negative return on equity of 66.37% and a negative net margin of 4,450.22%. On average, equities analysts predict that electroCore will post -1.57 earnings per share for the current year.

A number of equities research analysts have recently issued reports on the stock. BTIG Research cut shares of electroCore from a “buy” rating to a “neutral” rating in a research report on Wednesday, May 15th. Zacks Investment Research raised shares of GALP ENERGIA SG/ADR from a “sell” rating to a “hold” rating in a research report on Monday, May 27th. Noble Financial set a $19.00 target price on shares of electroCore and gave the company a “buy” rating in a research report on Friday, May 31st. Finally, Cantor Fitzgerald cut shares of electroCore from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $19.00 to $9.00 in a research report on Thursday, May 30th.

electroCore Company Profile

electroCore, Inc, a bioelectronic medicine company, engages in developing a range of patient-administered non-invasive vagus nerve (VNS) stimulation therapies for the treatment of various conditions in neurology, rheumatology, and other fields. The company is developing gammaCore, a prescription-only non-invasive VNS therapy for the acute treatment of pain associated with migraine and episodic cluster headache in adults.

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