electroCore (NASDAQ:ECOR) Trading Up 1.1% - Here's Why

electroCore, Inc. (NASDAQ:ECOR - Get Free Report) shares were up 1.1% during mid-day trading on Friday . The company traded as high as $11.75 and last traded at $11.53. Approximately 123,311 shares traded hands during mid-day trading, an increase of 509% from the average daily volume of 20,244 shares. The stock had previously closed at $11.40.

electroCore Stock Performance

The business has a fifty day moving average of $7.55 and a 200-day moving average of $6.73. The company has a market capitalization of $74.33 million, a P/E ratio of -5.24 and a beta of 0.62.

electroCore (NASDAQ:ECOR - Get Free Report) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.38) earnings per share for the quarter, beating the consensus estimate of ($0.39) by $0.01. electroCore had a negative return on equity of 165.17% and a negative net margin of 66.84%. The business had revenue of $6.14 million for the quarter, compared to analysts' expectations of $5.85 million. During the same period last year, the business earned ($1.03) EPS. Sell-side analysts anticipate that electroCore, Inc. will post -1.32 EPS for the current year.

Insider Buying and Selling at electroCore

In related news, Director Thomas J. Errico acquired 5,000 shares of the company's stock in a transaction on Thursday, August 15th. The shares were acquired at an average cost of $6.12 per share, for a total transaction of $30,600.00. Following the purchase, the director now owns 233,818 shares in the company, valued at approximately $1,430,966.16. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 19.70% of the company's stock.

Institutional Investors Weigh In On electroCore

An institutional investor recently raised its position in electroCore stock. International Assets Investment Management LLC grew its holdings in shares of electroCore, Inc. (NASDAQ:ECOR - Free Report) by 27.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 67,820 shares of the company's stock after purchasing an additional 14,800 shares during the quarter. International Assets Investment Management LLC owned approximately 1.05% of electroCore worth $436,000 at the end of the most recent reporting period. 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.