electroCore (NASDAQ:ECOR) Trading 14.6% Higher - Time to Buy?

Shares of electroCore, Inc. (NASDAQ:ECOR - Get Free Report) traded up 14.6% on Thursday . The stock traded as high as $7.69 and last traded at $7.55. 116,784 shares traded hands during mid-day trading, an increase of 47% from the average session volume of 79,651 shares. The stock had previously closed at $6.59.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ECOR. LADENBURG THALM/SH SH decreased their price target on shares of electroCore from $28.00 to $26.00 and set a "buy" rating on the stock in a research note on Thursday, March 13th. HC Wainwright restated a "buy" rating and set a $25.00 target price on shares of electroCore in a research report on Thursday, March 13th.

electroCore Price Performance

The firm has a market cap of $54.45 million, a PE ratio of -4.14 and a beta of 0.83. The stock has a 50-day moving average price of $9.52 and a 200 day moving average price of $12.28.

Insider Buying and Selling at electroCore

In related news, Director Thomas J. Errico acquired 6,000 shares of the stock in a transaction dated 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 purchase, the director now directly owns 256,401 shares of the company's stock, 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 filing with the Securities & Exchange Commission, which is available at this link. 19.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ECOR. Geode Capital Management LLC increased its stake in electroCore by 10.3% during the third quarter. Geode Capital Management LLC now owns 63,485 shares of the company's stock worth $458,000 after acquiring an additional 5,951 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of electroCore by 80.6% during the 4th quarter. Renaissance Technologies LLC now owns 131,786 shares of the company's stock worth $2,136,000 after purchasing an additional 58,800 shares during the period. DnB Asset Management AS acquired a new stake in electroCore during the 4th quarter worth approximately $180,000. JPMorgan Chase & Co. raised its holdings in electroCore by 31,250.0% in the fourth quarter. JPMorgan Chase & Co. now owns 3,762 shares of the company's stock valued at $61,000 after buying an additional 3,750 shares during the period. Finally, Jaffetilchin Investment Partners LLC lifted its position in electroCore by 25.5% during the first quarter. Jaffetilchin Investment Partners LLC now owns 32,983 shares of the company's stock valued at $221,000 after buying an additional 6,700 shares in the last quarter. Institutional investors and hedge funds 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.