electroCore, Inc. (NASDAQ:ECOR) Sees Significant Growth in Short Interest

electroCore, Inc. (NASDAQ:ECOR - Get Free Report) saw a significant increase in short interest in the month of January. As of January 31st, there was short interest totalling 118,600 shares, an increase of 34.5% from the January 15th total of 88,200 shares. Approximately 2.3% of the company's stock are short sold. Based on an average daily trading volume, of 121,900 shares, the days-to-cover ratio is presently 1.0 days.

electroCore Stock Up 3.3 %

Shares of NASDAQ ECOR traded up $0.58 during mid-day trading on Tuesday, reaching $17.99. 239,834 shares of the company were exchanged, compared to its average volume of 95,579. electroCore has a 1 year low of $5.32 and a 1 year high of $19.22. The firm has a 50-day moving average of $16.16 and a 200 day moving average of $11.24. The stock has a market cap of $119.81 million, a price-to-earnings ratio of -9.83 and a beta of 0.48.

Wall Street Analyst Weigh In

Separately, HC Wainwright upped their target price on electroCore from $22.00 to $25.00 and gave the stock a "buy" rating in a report on Wednesday, December 18th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Jane Street Group LLC purchased a new stake in electroCore during the fourth quarter valued at approximately $278,000. Marshall Wace LLP purchased a new stake in shares of electroCore during the 4th quarter valued at $438,000. NewEdge Advisors LLC acquired a new stake in shares of electroCore in the 4th quarter worth $274,000. Renaissance Technologies LLC grew its stake in 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 buying an additional 58,800 shares during the last quarter. Finally, DnB Asset Management AS acquired a new position in electroCore during the 4th quarter valued at about $180,000. 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.