Short Interest in electroCore, Inc. (NASDAQ:ECOR) Rises By 34.5%

electroCore, Inc. (NASDAQ:ECOR) saw a significant increase in short interest during 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. Based on an average daily trading volume, of 121,900 shares, the days-to-cover ratio is currently 1.0 days. Currently, 2.3% of the shares of the company are short sold.

Hedge Funds Weigh In On electroCore

Large investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC grew its stake in electroCore by 689.1% during the 3rd quarter. International Assets Investment Management LLC now owns 535,146 shares of the company’s stock valued at $3,864,000 after purchasing an additional 467,326 shares in the last quarter. Geode Capital Management LLC grew its stake in electroCore by 10.3% during the 3rd quarter. Geode Capital Management LLC now owns 63,485 shares of the company’s stock valued at $458,000 after purchasing an additional 5,951 shares in the last quarter. HighTower Advisors LLC acquired a new stake in electroCore during the 3rd quarter valued at approximately $255,000. Jane Street Group LLC acquired a new stake in electroCore during the 4th quarter valued at approximately $278,000. Finally, JPMorgan Chase & Co. grew its stake in electroCore by 31,250.0% during the 4th quarter. JPMorgan Chase & Co. now owns 3,762 shares of the company’s stock valued at $61,000 after purchasing an additional 3,750 shares in the last quarter. 26.74% of the stock is currently owned by hedge funds and other institutional investors.

electroCore Stock Up 1.4 %

electroCore stock traded up $0.24 during trading hours on Friday, hitting $17.41. The stock had a trading volume of 53,710 shares, compared to its average volume of 88,829. electroCore has a 1-year low of $5.32 and a 1-year high of $18.67. The stock’s fifty day moving average is $15.98 and its two-hundred day moving average is $11.04.

Analysts Set New Price Targets

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

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.