electroCore Inc. (NASDAQ: ECOR) Seen Running Too Hot, Let’s Look At This More Closely

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The Vanguard Group, Inc. recently announced the acquisition of new stake in electroCore Inc. (NASDAQ:ECOR). The institutional investor has increased its shareholding in the Healthcare company by 5.99% to 0.89 million shares with purchase of 50396.0 shares. This fresh investment now brings its stake to 2.34% valued currently at $1.99 million. In addition, Geode Capital Management LLC raised its holdings by 61543.0 to 0.27 million shares. And Wealthspire Advisors LP has lifted its position by 99.97% or 100000.0 shares – to 0.2 million shares.

With over 1.69 million electroCore Inc. (ECOR) shares trading Monday and a closing price of $2.15 on the day, the dollar volume was approximately $3.63 million. The shares have shown a negative weekly performance of -2.71% and its price on 08/17/20 lost nearly -5.29%. Currently, there are 29.77M common shares owned by the public and among those 26.32M shares have been available to trade.

An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 4 analysts who have offered their price forecasts for ECOR have a consensus price objective of $3.50. The analysts have set the share’s price value over the next 12 months at a high of $4.00 and a low of $3.00 should the stock experience a downside. Incidentally, analysts’ outlook for the electroCore Inc. stock is 2.50 for the next 12 months. But an upside of 46.25% will see the stock hit the forecast high price target while mean target price for the stock is $3.50.

Insiders at the company have transacted a total of 6 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 5 of these insider trades were purchases, accounting for 2,306,740 shares. Insider sales of the common stock occurred on 1 occasions, with total insider shares sold totaling 1,156,494 shares.

The top 3 mutual fund holders in electroCore Inc. are Vanguard Total Stock Market Index, Vanguard Extended Market Index Fu, and Fidelity Comwlth. Tr. – Nasdaq Co. Vanguard Total Stock Market Index owns 0.7 million shares of the company’s stock, all valued at over $1.56 million. Fidelity Comwlth. Tr. – Nasdaq Co bought 1183.0 shares to bring its total holdings to over 0.11 million shares at a value of $0.23 million. Fidelity Comwlth. Tr. – Nasdaq Co now owns shares totaling to 0.28% of the shares outstanding.

Shares of electroCore Inc. (NASDAQ: ECOR) opened at $2.31, up $0.04 from a prior closing price of $2.27. However, the script later closed the day at $2.15, down -5.29%. The company’s stock has a 5-day price change of -2.71% and 134.26% over the past three months. ECOR shares are trading 35.22% year to date (YTD), with the 12-month market performance up to 31.10% higher. It has a 12-month low price of $0.32 and touched a high of $5.64 over the same period. Currently, 1.69 million shares have been traded, compared to an average intraday trading volume of 5.67 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 11.31%, 53.19%, and 79.51% respectively.

Institutional ownership of electroCore Inc. (NASDAQ: ECOR) shares accounts for 18.80% of the company’s 29.77M shares outstanding. Mutual fund holders own 25.69%, while other institutional holders and individual stakeholders account for 3.51% and 2.89% respectively.

It has a market capitalization of $76.71M. The earnings-per-share (ttm) stands at -$1.33. Price movements for the stock have been influenced by the stock’s volatility, which stands at 11.97% over the week and 11.58% over the month.

Analysts forecast that electroCore Inc. (ECOR) will achieve an EPS of $Acorda Therapeutics, Inc. for the current quarter, $0.63 for the next quarter and $Stocks for Type. The lowest estimate earnings-per-share for the quarter is $ChannelAdvisor Corporation while analysts give the company a high EPS estimate of $EPIC CORPORATION COLO. Comparatively, EPS for the current quarter was $CoreSite Realty Corporation a year ago. Earnings per share for the fiscal year are expected to increase by 19.40%, and 30.00% over the next financial year.

If you are looking to buy this stock, then you may note that the average analyst recommendation by 4 brokerage firm advisors rate electroCore Inc. (ECOR) as a “Moderate Buy” at a consensus score of 2.50. Specifically, 3 Wall Street analysts polled rate the stock as a buy, while 1 of the 4 advise that investors “hold,” and 0 rated it as a “Sell.”

Looking at the support for the ECOR, a number of firms have released research notes about the stock. BTIG Research stated their Buy rating for the stock in a research note on August 14, 2020, with the firm’s price target at $3.50. JMP Securities coverage for the electroCore Inc. (ECOR) stock in a research note released on November 14, 2019 offered a Mkt Perform rating with a price target of. Cantor Fitzgerald was of a view on September 26, 2019 that the stock is Neutral, while Cantor Fitzgerald gave the stock Neutral rating on May 30, 2019, issuing a price target of. BTIG Research on their part issued Neutral rating on May 15, 2019.

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