Short Interest in electroCore, Inc. (NASDAQ:ECOR) Declines By 22.8%

electroCore, Inc. (NASDAQ:ECOR) was the recipient of a significant decrease in short interest in the month of January. As of January 15th, there was short interest totalling 89,500 shares, a decrease of 22.8% from the December 31st total of 115,900 shares. Based on an average daily trading volume, of 124,900 shares, the days-to-cover ratio is currently 0.7 days. Currently, 1.7% of the company’s shares are sold short.

Institutional Trading of electroCore

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC raised its holdings in electroCore by 3.4% in the 2nd quarter. Renaissance Technologies LLC now owns 68,786 shares of the company’s stock worth $442,000 after purchasing an additional 2,270 shares during the period. Geode Capital Management LLC raised its holdings in electroCore by 10.3% in the 3rd quarter. Geode Capital Management LLC now owns 63,485 shares of the company’s stock worth $458,000 after purchasing an additional 5,951 shares during the period. HighTower Advisors LLC acquired a new position in electroCore in the 3rd quarter worth about $255,000. Finally, International Assets Investment Management LLC raised its holdings in electroCore by 689.1% in the 3rd quarter. International Assets Investment Management LLC now owns 535,146 shares of the company’s stock worth $3,864,000 after purchasing an additional 467,326 shares during the period. Institutional investors and hedge funds own 26.74% of the company’s stock.

Wall Street Analyst Weigh In

Separately, HC Wainwright raised their price objective on electroCore from $22.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th.

electroCore Price Performance

electroCore stock opened at $16.72 on Friday. The stock has a market capitalization of $111.36 million, a price-to-earnings ratio of -9.14 and a beta of 0.50. electroCore has a 1-year low of $5.32 and a 1-year high of $18.67. The business has a fifty day moving average price of $14.99 and a 200-day moving average price of $10.28.

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.