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

electroCore, Inc. (NASDAQ:ECOR) was the target of a large decrease in short interest during 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. Approximately 1.7% of the shares of the stock are short sold. Based on an average daily trading volume, of 124,900 shares, the days-to-cover ratio is currently 0.7 days.

Wall Street Analyst Weigh In

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

electroCore Trading Up 6.4 %

electroCore stock opened at $16.72 on Friday. The company has a market capitalization of $111.36 million, a PE ratio of -9.14 and a beta of 0.50. The stock has a 50-day moving average price of $14.99 and a two-hundred day moving average price of $10.28. electroCore has a 12 month low of $5.32 and a 12 month high of $18.67.

Hedge Funds Weigh In On electroCore

Several hedge funds have recently made changes to their positions in ECOR. International Assets Investment Management LLC boosted its holdings in shares of 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 in the last quarter. Geode Capital Management LLC lifted its stake in shares of electroCore by 10.3% in the 3rd quarter. Geode Capital Management LLC now owns 63,485 shares of the company’s stock valued at $458,000 after acquiring an additional 5,951 shares during the last quarter. HighTower Advisors LLC bought a new stake in shares of electroCore in the 3rd quarter valued at about $255,000. Finally, Renaissance Technologies LLC lifted its stake in shares of electroCore by 3.4% in the 2nd quarter. Renaissance Technologies LLC now owns 68,786 shares of the company’s stock valued at $442,000 after acquiring an additional 2,270 shares during the last quarter. 26.74% of the stock is currently owned by hedge funds and other institutional investors.

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.