Short Interest in electroCore, Inc. (NASDAQ:ECOR) Increases By 136.9%

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

Insider Transactions at electroCore

In related news, Director Thomas J. Errico acquired 6,000 shares of the stock in a transaction on Monday, March 17th. The stock was bought at an average cost of $8.10 per share, with a total value of $48,600.00. Following the transaction, the director now directly owns 256,401 shares in the company, valued at approximately $2,076,848.10. This represents a 2.40 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 19.70% of the company’s stock.

Hedge Funds Weigh In On electroCore

Institutional investors have recently bought and sold shares of the business. Jane Street Group LLC purchased a new stake in electroCore during the fourth quarter worth $278,000. Marshall Wace LLP purchased a new stake in shares of electroCore during the 4th quarter worth $438,000. NewEdge Advisors LLC purchased a new stake in shares of electroCore during the 4th quarter worth $274,000. Renaissance Technologies LLC boosted its position in electroCore by 80.6% during 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. Finally, DnB Asset Management AS purchased a new position in electroCore in the fourth quarter valued at about $180,000. 26.74% of the stock is owned by hedge funds and other institutional investors.

electroCore Stock Performance

NASDAQ ECOR opened at $6.45 on Friday. electroCore has a one year low of $5.32 and a one year high of $19.49. The company has a market capitalization of $46.39 million, a price-to-earnings ratio of -3.52 and a beta of 0.24. The company’s 50-day simple moving average is $14.08 and its two-hundred day simple moving average is $12.41.

Analysts Set New Price Targets

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

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.